Deutsche Bank CEO Warns Populism Threatens German Economic Success

Deutsche Bank AG CEO Christian Sewing warned that populism and political polarization threaten Germany's economic stability and growth. Speaking at a conference in Frankfurt, Sewing argued that isolationism and nationalism weaken Germany as a business location, deter investment, and discourage skilled workers. He stated that populist parties promote concepts that contradict the foundations of German prosperity, specifically openness, diversity, and international cooperation.

These warnings come as the far-right Alternative for Germany party leads polls with 42% support ahead of the September 6 state election in Saxony-Anhalt, while the ruling Christian Democratic Union has dropped to 22%. The Alternative for Germany advocates for increasing deportations and abandoning the euro, a position Bundesbank President Joachim Nagel called irresponsible and extremely dangerous. Nagel noted that Germany, France, and the broader monetary union have prospered immensely due to the single currency.

An Alternative for Germany victory would mark a significant rupture with Germany's post-World War II political order and weaken the federal government of Chancellor Friedrich Merz. Sewing's concerns were echoed by Infineon Technologies AG CEO Jochen Hanebeck, who also warned against the risks of symbolic politics and populism.