Too Little, Too Late?


MR. REFORM: Schröder presents his plan for change to parliament

We have to find the courage to make the changes in our country that are necessary to bring it back to the top of economic and social development in Europe." That's what a revved-up Gerhard Schröder told parliament last week in an impassioned address broadcast on national television. So does the German Chancellor finally get it? With unemployment now topping 4.7 million — 11.3% of the workforce — and growth last year an anemic 0.2%, Schröder's proposed reforms come none too soon.

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