Christian Zewing, chief executive of Deutsche Bank, has called on the German government to speed up economic reforms, cut red tape and review legislation protecting workers from dismissal.
“We need to significantly cut red tape. We must return to the principle of trust and introduce a rule whereby if no response is received to an application within three to four months, it is automatically deemed to have been approved,” said Zewing.
According to him, strict labour legislation remains one of the main obstacles to the development of German business. In particular, the banker called for a relaxation of the rules protecting employees from redundancy.
Zewing noted that the first step had been to limit such safeguards for employees with an annual income exceeding 180,000 euros. He believes, however, that it is necessary to gradually lower this threshold.
The head of Deutsche Bank also expressed dissatisfaction with the pace of economic reforms in Germany. In his view, the government understands what measures need to be taken, but is not acting quickly or consistently enough.
Furthermore, Zewing identified the rising popularity of right-wing and left-wing political movements as a serious risk for Germany.
He said that the results of elections in certain federal states, as well as discussions regarding the possible expropriation of property from major landowners in Berlin, are causing concern amongst foreign investors.
https://report.az/ru/drugie-strany/glava-deutsche-bank-prizval-vlasti-germanii-sokratit-byurokratiyu
