Germans call them die Wirtschaftsweisen, the economic wise ones. Their official name is the German Council of Economic Experts. A federal law of 14 August 1963 created it. The law sets one main condition for its five members. They must have special knowledge of economics and experience of the economy. They may not represent a business association or an organization of employers or employees. Every year the council must deliver its annual report to the federal government by 15 November. A minority may publish a dissenting view. On 12 November 2025, the council handed its report to Chancellor Friedrich Merz.