HansWerner Sinn is Professor of Economics and Public Finance and President Ifo Institute There is no alternative to increasing the Washington DFax 2028610790wwwinternationaleconomycomedito ID: 95235
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THE INERNAONAL CONOMY FALL 2014Germany’s Coming Gerontocracyermany’s demographic time bomb is ticking. Baby boomers born in 1964 are now fty years old and plan to claim their retirement bene ts in fteen or even thirteen years’ time. owever, the combination of a growing number of pensioners and far fewer younger people is leading to an almost unsolvable and highly predictable generational con ict. In 2000, one hundred working-age people (age 15–64) had to nance twenty-four people Hans-Werner Sinn is Professor of Economics and Public Finance and President, Ifo Institute. There is no alternative to increasing the Washington, D.Fax: 202-861-0790www.international-economy.comeditor@international-economy.com