In light of current economic challenges, the Association of German Banks has emphasised the need for urgent reforms in both Germany and Europe. The solutions to these challenges can only be found if “several fundamental course corrections” are made, according to the President of the Association of German Banks, Christian Sewing (pictured), speaking today at the Banking Congress in Berlin. Sewing called, in particular, for an increase in investment, a new, welcoming mindset towards innovation, redoubled efforts to manage challenges on the job market and the strengthening of Europe. He also called for a change in attitude: “We have to accept that we will have to work hard to hold our ground in a more intensely competitive world. And we must be ready to do just that”, said the CEO of Deutsche Bank.
Banks must take a stand
Sewing also urged private banks to take a clear stand in support of a liberal, pluralist society. The President of the Association Banks emphasised: “We will always raise our voices and speak out strongly against political movements that undermine the institutions and values that make up our democracy, that spread xenophobia and anti-Semitism, sympathise with authoritarian regimes and call, directly or indirectly, for a withdrawal from the European Union.” International investors, he said, are interested in Germany in particular because it is a country with a stable democracy. This must be protected at all costs, said Sewing.
