The German Review

The German Review

The reform that could make or break Merz

The Chancellor and the SPD have unexpectedly united behind a Swedish-style pension overhaul. Their next challenge begins when it reaches parliament.

Jörg Luyken's avatar
Jörg Luyken
Jun 24, 2026
∙ Paid

Dear Reader,

Good news from Berlin at last.

A few weeks ago, I argued that Germany should stop obsessing over the ever-expanding fortune of the super-rich and start asking how ordinary workers could benefit from the same forces that have made them so wealthy. My answer was a Swedish-style pension system that allows workers to build wealth through the stoc…

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