Stefan Bielmeier Quotations

I wouldn't go as far as to say Germany is the reform engine of Europe, but it is making slow progress.

The order backlog has risen, and this is supporting manufacturing. Exports should continue to drive growth while the domestic economy remains weaker.

Even if the negotiations on a grand coalition are successfully concluded ... we expect this government will stay in power for only a short period of time.

The weather wasn't very good in March. That's a distortion and a short-term effect that'll go in the opposite direction in April or May.

There probably will be only tentative reforms in France now, if any at all, until the 2007 election. And whatever government emerges in Italy, it looks as if it will lack the broad mandate needed to implement necessary changes. Germany is definitely ahead of them at least with part of the reforms.

Accelerating world trade is proving a boon to German exports. The recovery is broadening; no doubt the optimism is warranted.

It's a formula to introduce pension cuts through the back- door.

The numbers are very positive, as they are much stronger than expected. It signals an economic upturn in the coming quarters.

The agreement is lower than expected and it's good news for Germany and for the euro zone because the ECB will have one reason less to raise interest rates. The whole package entails a total rise of 5.1 percent over 24 months, so for German standards that is a really good agreement.

German companies will start feeling the pressure on their margins. It was a long winter, consumers used more energy and the same applies to companies. We expect energy prices to retreat somewhat in the second quarter.

A higher retirement age is unavoidable but Merkel must do more to ensure the system's viability.