Christian Sewing urges faster German economic reforms

Deutsche Bank CEO Christian Sewing has called for faster and more decisive economic reforms from the German government to protect the country's status as a business location. Speaking to 'Bild am Sonntag', Sewing criticized the current pace of implementation and urged the government to avoid excessive compromises.

Key demands include a substantial reduction in bureaucracy. Sewing proposed that if administrative applications remain unanswered for three to four months, they should be automatically deemed approved. He also advocated for labor market flexibility, specifically suggesting that protections against dismissal should be eased for a broader range of employees beyond the current threshold of those earning over 180,000 euros.

Regarding social policy, Sewing expressed support for the planned pension reform and the new retirement savings depot, provided they are implemented without dilution. However, he voiced opposition to fuel subsidies, such as the 'tank discount', citing concerns over Germany's national debt situation. Additionally, he warned that political developments, including the rise of the AfD, pose a 'dangerous' risk to investment and economic growth.