FRANKFURT (Reuters) – Germany’s conservative CDU/CSU bloc won most votes in Sunday’s national election and could form a government with the Social Democrats (SPD), allaying market fears that Europe’s top economy can only be ruled by another three-way coalition.
Here are reactions from German business leaders:
RHEINMETALL CEO ARMIN PAPPERGER:
“The result provides a clear mandate to form a government. Germany will have a capable and determined government that will tackle the problems – I have no doubt about that.”
SIEMENS CEO ROLAND BUSCH:
“We don’t need any further discussions, the problems are well known – we need implementation now. Because the rest of the world is not waiting for us – and the pressure to act in Germany, particularly with regard to competitiveness, is enormous.”
E.ON CEO LEONHARD BIRNBAUM:
“We expect the future German government to take decisive steps to increase competitiveness and productivity in Germany and to invest in education, innovation and infrastructure. The turnaround also presents opportunities: for example, we must finally unleash AI and digitalization in order to significantly increase productivity in business and administration.”
THYSSENKRUPP CEO MIGUEL LOPEZ:
“Germany must become more attractive again for investors and companies. This is the only way to leverage new growth potential. This also includes the necessary green transformation of our economic systems.”
GERMAN MECHANICAL ENGINEERING ASSOCIATION VDMA:
“The VDMA expects the new government to take decisive measures for a strong economy, show an openness to technology and have close European cooperation.”
SIEMENS ENERGY CEO CHRISTIAN BRUCH:
“Germany must swiftly regain its competitiveness. Actions in energy policy are crucial for this. The expansion of gas-fired power plants, the strengthening of wind energy, and the modernization of electricity grids are essential, as is a secure supply of raw materials. It is important that the democratic centrist parties form a stable government as quickly as possible to address these challenges promptly.”
DEUTSCHE BANK CEO AND PRESIDENT OF THE ASSOCIATION OF GERMAN BANKS CHRISTIAN SEWING:
“Germany now needs a government that is able and willing to act – and quickly. The challenges facing our country are enormous: the economy urgently needs a fresh start with fundamental reforms. Growth and competitiveness must be the focus of the next legislative period so that Germany remains an attractive location for companies and investors alike.”
GERMAN AUTO INDUSTRY ASSOCIATION VDA:
“Germany now needs a stable government as quickly as possible… A strong, unified German voice in Europe is imperative, as are reforms in Germany. The German automotive industry is determined to continue to successfully serve the global market from Germany – this requires a comprehensive agenda for its competitiveness. Companies as a whole, and in particular the backbone of our prosperity – the industrial SME sector – can no longer bear the high energy prices, excessive bureaucracy, taxes and levies.”
BDI INDUSTRY ASSOCIATION PRESIDENT PETER LEIBINGER:
“Now is the time for a real new start: clear structural reforms and resolute decisions for more growth and security. We need effective short-term relief signals through less bureaucracy and simpler approval procedures. In the medium term, we need a bold strategic plan that relieves companies of bureaucracy and taxes and unleashes innovation and growth through more freedom, instead of state micromanagement. Everything that creates growth and security must take centre stage.”
(Compiled by Christoph Steitz, Tom Sims, Victoria Waldersee, Rene Wagner, Alexander Huebner, Tom Kaeckenhoff and Matthias Inverardi; Editing by Ros Russell, Kirsten Donovan)
