00:00The crisis over pension reform in Germany is escalating.
00:04During his weekend speech, Chancellor Friedrich Merz backed the draft legislation of the pension reform,
00:10putting him at odds with the party's youth wing, which rejected the reform package.
00:15Facing pressure, Merz warned that he did not want a bidding war for the lowest pension level.
00:30The controversy over Germany's pension reform stems from the bill's provision to guarantee pension rises until 2031.
00:47According to the draft, additional cost of 120 billion euros would be incurred between 2032 and 2040.
00:55In October, some 18 members of parliament from Merz's ruling coalition, mostly from the CDU's party's young union,
01:03made it clear that they would not be voting in favor of the pension package in its current form.
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