ZEW’s Wambach sees German economic boom at risk

FRANKFURT: Germany’s economic success risks being undermined by the country’s unwillingness to adapt, according to the head of the ZEW Center for European Economic Research.

“We are becoming complacent to some degree,” Achim Wambach, who has been at the president of the Mannheim, Germany-based ZEW since April, said in an interview on Thursday. “From politics we have pension reforms, but they are not shifting the economy,” he said. “And now we have the election coming up next year, so I don’t think much will be done until then.”