Business Standard

Germany heading for recession, warns Deutsche Bank CEO Christian Sewing

"The longer inflation remains high, the greater the strain and the higher the potential for social conflict," Sewing said.

Deutsche Bank CEO Christian Sewing
Premium

Deutsche Bank CEO Christian Sewing

Bloomberg
Europe’s largest economy is set for contraction on the back of soaring inflation, energy supply bottlenecks and the disruption to global supply chains, Deutsche Bank AG Chief Executive Officer Christian Sewing warned.
 
“We will no longer be able to avert a recession in Germany,” Sewing said during a speech in Frankfurt on Wednesday. “We believe that our economy is resilient enough to cope well with this recession -- provided the central banks act quickly and decisively now.” 
 
The crisis triggered by Russia’s invasion of Ukraine hit a new peak when Gazprom PJSC announced this month that it is suspending gas

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in