Marcel Fratzscher, President of the German Institute for Economic Research (DIW), has voiced several demands concerning the current energy crisis, advocating for measures such as car-free Sundays and establishing speed limits. Fratzscher stated to the news portal “T-Online” that the global scarcity of oil and gas necessitates a significant reduction in overall consumption. He criticized the government’s fuel discount, arguing that it is counterproductive because it fails to adequately incentivize Germans to conserve energy and, consequently, contributes to higher prices in other essential sectors, such as food.
The DIW president also warned of continued increases in food prices, attributing this trend to geopolitical tensions and potential issues with energy supply. He sharply criticized the federal government’s relief measures, dismissing them as what he termed a “sham giveaway”. Specifically, he pointed out that the €1,000 relief bonus for employees is socially skewed, disproportionately benefiting workers covered by collective bargaining agreements.
In a more unconventional proposal, Fratzscher suggested selling a portion of Germany’s gold reserves as a way to mitigate the financial burden caused by the crisis. He argued that given the record high prices for gold, the substantial reserves could be “more sensibly invested” in areas like infrastructure or education. However, he acknowledged that since the Federal Bank manages these reserves, the government would need to devise a mechanism to proceed with any sale.