Deutsche Bank CEO Sewing: fuel discount will not help in the long run
Christian Sewing criticises the federal government's fiscal policy and calls for a review of state subsidies, saying the discount costs too much given Germany's debt.
Archive image · Photo: World Economic Forum / Wikimedia Commons, CC BY 3.0 (cropped and resized)
Deutsche Bank chief executive Christian Sewing has cast doubt on the government's fuel tax discount. "I don't believe the fuel discount will help us in the long term," he told Bild am Sonntag, according to the dts news agency. Sewing does not expect the situation in the Middle East to be resolved quickly.
He said the cost of the price cut was too high given Germany's existing public debt: "then we can't just keep adding on top." Sewing called for a fundamental review of state subsidies for the economy, saying Germany must consider whether it can still afford to subsidise such things.
Sewing has led Deutsche Bank for eight and a half years. According to dts, his remarks amount to criticism of the federal government's fiscal policy.