German Chancellor Olaf Scholz gestures as he talks with the tv host prior to a TV interview with German public broadcaster ARD in Berlin on July 3, 2022, as in background can be seen the Reichstag building that houses the Bundestag (lower house of parliament). (Photo by John MACDOUGALL / AFP)

The federal government, trade unions and employers want to discuss how to deal with rising consumer prices at the opening meeting of the “Concerted Action” on Monday (2 p.m.).

Chancellor Olaf Scholz (SPD) had announced the plans for this “targeted effort in an extraordinary situation” at the beginning of June. Representatives of the Bundesbank should also be there. The “Concerted Action” has its model in similar conversations in the 1960s and 1970s.

According to the government, this is the kick-off meeting of a longer process in which solutions are to be found for the current high price increases and burdens on German citizens. Concrete results are not expected.

In addition to Scholz, various cabinet members as well as Employer President Rainer Dulger, DGB boss Yasmin Fahimi and Bundesbank President Joachim Nagel want to take part. According to the federal government, the first step is to get a “general view of the situation”. The aim is to prevent or mitigate real income losses and at the same time to prevent the risk of a price spiral.