Final Word from Monday, May 18, 2026

An aging society that makes it difficult for people over 50-55 to work and even encourages them through its social and retirement systems not to is inevitably going to run up against demographics and mathematics. When German Chancellor Friedrich Merz used these key words last week to explain the necessity of pension reform, he was met with derision from labor-union representatives. It's the same Friedrich Merz who had vowed to do "whatever it takes" in terms of defense and who relaxed the budget rules to keep his promise. Now Finance Min. Alena Schillerová of ANO is following in Merz's footsteps on defense and oversaw passage in the lower chamber on Fri. of legislation for relaxing the budget rules so that the Babiš government can spend pretty much "whatever it wants." By excluding certain defense and infrastructure items from the debt-brake rules, it will be able to keep bribing elderly voters. There's still the reality of demographics and mathematics, but that'll have to wait until another day. [ Czech Republic age Germany ]