German Council of Economic Experts

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The German Council of Economic Experts or Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung (Expert Council for the assessment of the macroeconomic Development) is a group of economists set up in 1963 to advise the German government and Parliament on economic policy issues. Every year the Council prepares the annual report which is published before or by November 15. The federal government has to publish its comments and conclusions within eight weeks of the publication of the annual report. In the German media, the council is often referred to as the Five Sages of Economy ("Fünf Wirtschaftsweisen").

The Council has five members which are nominated by the federal government and appointed by the president of Germany.

Current members of the council are:[1]


In 2011, GCEE proposed a plan for the issuance of collectivized European debt as part of a mechanism for contending with the European sovereign debt crisis.[3][4]


  1. ^ About us > Council Members, GCEE webpage. Retrieved 2012-07-26.
  2. ^ Prof. Dr. Claudia-Maria Buch, GCEE webpage. Retrieved 2012-04-12.
  3. ^ Delamaide, Darrell, "Last chance to avoid nasty euro train wreck", MarketWatch, April 12, 2012. Retrieved 2012-04-12.
  4. ^ "The European Redemption Pact (ERP) – Questions and Answers", GCEE, 25.01.2012. Retrieved 2012-04-12.

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