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Extremism: Deutsche Bank CEO Tailoring: There is no place for hatred and racism

Extremism: Deutsche Bank CEO Tailoring: There is no place for hatred and racism

Extremism Deutsche Bank Chairman Sewing: There is no place for hatred and racism

Christian Sewing, head of Deutsche Bank, says there are many reasons from an economic perspective to take a stand against hatred and racism. picture

© Arne Didert/DPA

Tens of thousands take to the streets against right-wing activities. Warning voices from companies are also growing louder: Germany, as a business location, is at risk of being damaged.

Christian Sewing, head of Deutsche Bank, has warned of the dangers of growing right-wing extremism in Germany – and also for the local business website. “Hatred and racism should have no place here,” Sewing, who is also head of the Federal Reserve Bank of Germany (BdB), said in a previously published interview with the Welt am Sonntag newspaper.

Economically, there are also many reasons to take a stance against it, said Swing: “Foreign investors are also involved in Germany because of its values ​​and reliable democratic structures. They are already wondering whether they can be trusted in Germany.” “Long-term.” Germany will only be able to control the shortage of skilled workers if we are an attractive destination for qualified employees from abroad.

Tailoring: Dixit's mind games 'extremely dangerous'

Swing stressed that he considered Germany's Brexit-like considerations to be “extremely dangerous and ill-considered economic nonsense.” The negative consequences of Brexit on the British economy are very clear; Europe is “our biggest trump card in the global competition.”

AfD leader Alice Weidel recently said in an interview that the government led by her party will try to reform the European Union and give member states more sovereignty again. If this does not produce the desired result, she believes that a referendum should also be held in Germany on remaining in the European Union, as was the case in Great Britain in 2016.

Economists warn against isolation

Several German economists criticized the party's economic policy goals in the Spiegel newspaper over the weekend. “The fundamental problem is that the AfD relies on isolation and self-sufficiency, which is destroying Germany’s competitive advantages,” said Clemens Fuest, head of the Ifo Institute in Munich.

This “completely contradicts Germany's deep integration into the global economy.” The Leibniz Center for European Economic Research noted that, according to its calculations, higher income earners, not lower income earners, would benefit if the party's demands regarding the recent federal elections were implemented.