Business Leaders Call for Economic Policy Shift Ahead of Bundestag Elections

In the run-up to Germany's upcoming federal elections, top executives from major corporations are advocating for a significant change in the country's economic policies. The leaders of Deutsche Bank, Siemens, and Mercedes-Benz have united to champion a more open stance towards immigration and an innovative economic framework.

As the debate surrounding migration intensifies, Roland Busch, CEO of Siemens, has expressed concerns about the rising tide of xenophobic sentiments. He emphasized that the elections, scheduled for February 23, should not be a platform for protest but rather a reflection of a stable democratic society, which is essential for fostering prosperity and growth.

Busch has called for a collaborative effort among centrist political parties to address the complexities of immigration. He stressed the necessity for Germany to attract more skilled workers and underscored the urgency of integrating these individuals into the workforce swiftly. He acknowledged the contributions of global talent to the country's economy and the importance of creating an inclusive environment.

Ola Källenius, CEO of Mercedes-Benz, echoed these sentiments, highlighting the pressing issue of a skilled labor shortage in Germany. He pointed out the distinction between illegal immigration and the recruitment of professionals, asserting that the latter is crucial for sustaining economic growth. He advocates for a policy reform that prioritizes the acquisition of top talent for the nation's development.

Källenius further emphasized the need for free trade amidst potential customs conflicts and called for a critical reassessment of bureaucratic regulations in Europe. He argued that competitive energy pricing is essential for the industrial sector to thrive.

Busch also advocated for a temporary halt on new European regulations, suggesting that the focus should shift to supporting the market introduction of advanced technologies such as artificial intelligence. He called for increased investments in infrastructure and a stronger emphasis on STEM education in schools to prepare future generations for the challenges of a rapidly evolving job market.

Christian Sewing, CEO of Deutsche Bank, highlighted the importance of a unified European front, especially in the context of international relations and economic stability. He advocated for a harmonized internal market within the European Union to facilitate smoother trade in capital and goods. Sewing also pointed out the necessity for reducing bureaucratic hurdles, particularly for small and medium-sized enterprises.

This collective appeal for a transformation in economic policy is part of the initiative titled 'We Stand for Values,' which comprises nearly 40 prominent German companies and organizations. This alliance, established in the lead-up to the 2024 European elections, champions principles of diversity, openness, and tolerance.