When I heard of Dr. Nicole Essiger-Munks book “Concept of a Prophylaxis against Insolvency for Germany Vision of a second economic Miracle” for the first time, I had just read an article in the “Handelsblatt” with the title “French Investor swallows Messer-Griesheim”. Again a fairly large German industrial group had been taken over by a financially potent foreign competitor and with thousands of jobs in a typically German domain being threatened. Additionally there are daily Press reports such as the “Bundesbank” wishing to dispose of one sixth of its Gold reserve to subsidize State finances.

It is depressing for a citizen of this country to see the economy in a downward spiral, apparently without anyone able to do something about it. This often makes me angry and one gets a sort of numbing feeling. Despite very strong signals of alarm, people, who should know better continue to discuss:” Can Germany be saved?” as if this were not our homeland but a sort of an abstract game!

Citizens who wished to inform themselves about the background and cause of the downturn of the German economy and state finances, so far were facing the dilemma of hardly understandable, incomplete and non-objective presentations of the problems, much less of being enlightened on how the problem might be corrected. Dr. Nicole Essiger-Munk has succeeded in presenting a scientific handbook which, for the first time undertakes to analyze the problem on an enlarged scale. At the same time she shows ways of possible solutions of the crisis and presents her readers with an insight into the complexities of the “globalized” world economy. Also she points out why the awkward situations in which Germany finds itself, is not the result of a globalized world economy, and that neither Washington nor Brussels are the cause, but the reasons for the downturn are to be found at our own doorstep!

I, myself have lived through the “Economic Miracle” under Ludwig Erhard and after World War II experienced the rise of Germany to one of the leading economic nations.

Now, after 5 decades of success of the Federal Republic of Germany, I am to be expected to accept that our descent in all economic fields cannot be stopped? Are we expected to just look on when everything, for which we worked so hard, goes downhill and is under peril to be lost forever? Or is Germany, in spite of all this and beyond all bureaucracy able to create innovations and able with diligence and creativity to have a comeback to the top of the World Economy?

Dr. Munks reply is a definite “Yes!” At first glance her summary of State Finances and Company landscape look staggering, yet at the same time the young author of Bad Nauheim offers a catalogue of measures and suggestions for the rehabilitation of the German economy, which appear to be very straight forward and object-oriented.

Functional responsibility and profound knowledge appear to have vanished from German politics and economy: Willpower, “the to prove something” and the confidence to succeed, the often cited German virtues and values, “ the we will do it”, to fight under difficult circumstances, today apparently can almost only be found in German sport.

Dr. Munk´s “Prophylaxis against Insolvency” is directly aiming at this sentiment and she requests apart from other suggestions in the area of legal-,economic and political science, the return to these virtues.

The “Concept of Prophylaxis against Insolvency” provides the ordinary citizen with an insight on why jobs emigrate to other countries, why purchasing becomes less, on why jobs and chances for the younger generation disappear and why the Social System takes a beating. Hardly anybody so far found the courage to call this spade a spade and has suggested the necessary tough procedures for this country. Dr. Munk suggests unpopular measures and vigorously claims their implementation. She speaks up against the interests of powerful associations and organizations in Germany and thereby shows moral courage.

The introduction of a general citizen security, outside of the influence of government or other finance institutions, a radical increase of working hours, a massive reduction of bureaucracy on all Government and Public levels( and respective pension obligations), a reorganization of the directorial system in German industry are elemental points of her recommendation.

The ”Prophylaxis against Insolvency” does neither represent the interests of the unions nor those of the industrial associations, however only those of the citizens of this country, whose wishes and needs are no longer respected by the political parties, and which due to their sluggishness and their self interest no longer find the strength for decisive changes.

Dr. Munk, scientific economist and Marathon enthusiast has, however, raised the elevation of the hurdles recovery of the German Economy in 5 years. Utopia?

The person, who has read the book realizes: The goal can be reached, most certainly if the people holding responsible positions in State and Economy show real Olympic team spirit.

Germany must rediscover its spirit to fight for the world titles such as Nobel Prizes, Science, Productivity, Forming of new Companies, Research and High Technology.

Dr. Munks “Prophylaxis against Insolvency” should be understood to be a yard stick for the Office of the Chancellor, to reinvent the success of the Social Economy and for Germany to regain its rightful place in the International Economy.

I wish Dr. Munk the steadfastness and courage for the critical discussion that her book will certainly release.

The joy over a victory at the Dubai World Cup can hardly be topped. The recently deceased Emir Sheikh Maktoum and the new Ruler of Dubai Sheikh Mohammed (covered by cup) at the prize hand over.