Moreover, the more today’s generation consumes, the more future generations will have to save to get the debt level back down again. And they will have to do this: as part of the new EU debt rule, all euro area countries are legally bound to start reducing their public debts below 60% of GDP.
The need for software engineers in Germany has led the Foreign Minister to visit India on several occasions to lure Indian engineers into Germany. It has even prompted a revision of the German Immigration laws to accommodate that economic need.