Editor-DN
Salai stressed the need for more efforts to tackle the growing economic challenges.
Once a cornerstone of stability in Europe, Germany has recently seen a downturn. Geopolitical concerns, supply chain disruptions, and rising energy costs are some of the factors contributing to this economic burden. Key sectors that have historically supported Germany’s economic strength, such as manufacturing and exports, are under pressure as a result of these difficulties. Deutsche Bank CEO Christian Seung has now proposed a solution to the sluggish German economy. He has urged Germans to work harder to help revive the country’s economy.
“Investors are already doubting our ability to reform, but especially our ability and our will to perform,” Seong said. Handelsblatt Banking Summit in Frankfurt.
“Further development in Germany will only happen if we also change our attitude to work; if we are prepared to work differently, but to work harder overall.”
According to Fortune Magazine, The stitch is correct to indicate the disparity between EU and German working hours. Official figures for 2023 show that the bloc’s average weekly working time is 36.1 hours, compared to just 34 hours in Germany.
Other European countries exceed the regional average, such as Greece, where the working week lasts 39.8 hours. Germany’s industrial competitor US workers work an average of 36.4 hours, which is close to the EU average.
Salai has led the German banking giant since 2018 and has in the past pushed for changes at the policy level to prevent the country from being dubbed the “sick man of Europe”. Now, he says, investors are beginning to question the country’s ability to fight back.
“Investors have been telling us for over a year that they doubt Germany’s and Europe’s ability to perform, and worse, the will to perform,” Siong said. “We just have to let our fellow citizens know that we have to do more again.”
