In Germany, too, the business community has bemoaned the insufficient credentials of many young job applicants. But education cannot just be confined to the first third of a person’s life. Rather, learning should be a lifelong process. For employers, this basically means that they need to facilitate access to professional training and development for their staff.
6/8  BIS central bankers' speeches  And at the same time, a targeted tax and transfer system should be designed to cushion social hardships. 8 Conclusion Ladies and gentlemen, The United States, Germany and also Europe are facing very similar challenges.