As retirement neared a decade ago, German butcher Waldemar Hackstaetter took sto...
SIRAKOVO, Bulgaria - As retirement neared a decade ago, German butcher Waldemar Hackstaetter took stock of his finances and concluded he and wife Hildegard couldn’t afford to remain in their home country.
“The month stretched further than our pension did and we didn’t want to become a burden to our children,” 78-year-old Waldemar said. Over the same ten years, numbers of German retirees persuaded by poverty to move the other way have risen as much as eightfold. That loss of purchasing power has been a factor in the flood of elderly citizens - a traditionally loyal conservative voter base - who have ditched Merkel’s mainstream alliance for more radical parties, weakening her position as head of government.cited the perception that asylum seekers were getting more financial support than pensioners.
But that truce appears fragile, and the debate over pensions is expected to be a pivotal factor in the next national election earmarked for 2021. So Germany’s economically driven pensioner exodus mirrors, albeit on a far smaller scale, the flows of young migrants from poor to richer countries, with both groups often facing uncertain futures.
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