The president of the first German banking group Deutsche Bank said Wednesday that Germany is less threatened by commercial tensions than for its inability to carry out urgent reforms to relaunch its economic activity.
“The greatest economic risk for Germany is not customs duties and other commercial barriers, but our lack of courage, our prudence, our heaviness,” said Christian Sewing, also president of the German private banks (BDB), in the opening of a bank congress in Frankfurt.
“What we lack is not competence, but courage and a clear commitment in favor of change,” said the banker, when the coalition government led by Chancellor Friedrich Merz has promised a “fall of reforms” after whispers since spring.
“We urgently need the fall in the announced reforms”
The leaders of the rulers of the coalition, the conservatives of the CDU-CSU and the Social Democrats (SPD), meet on Wednesday in Berlin to discuss the reforms that will be carried out in the coming months.
The meeting, which will take place in the afternoon at the Chamber, was preceded by dissonant statements among the tenors of the coalition, particularly on the need to reform social systems. Companies also require urgent reforms to reduce bureaucracy and reduce energy prices. “That is why we urgently need the fall in the reforms announced, and this, so that his name really deserves,” said Christian Sewing.
Berlin broke a taboo in the spring when the flange dropped on the constitutional brake with the debt, to allow the vote of investment programs in hundreds of billions of euros to build defense and modernize the infrastructure of the country. “We cannot just increase the debt and not establish a reform, the two must go hand in hand,” said Christian Sewing.
Source: BFM TV
