2024-04-20 00:24:25
BDI President Russwurm warns of a long economic downturn. And explains what the traffic lights have to do so that Germany doesn’t lose touch.
Siegfried Russwurm recently had harsh words for Olaf Scholz’s chancellorship. The president of the powerful Federation of German Industries (BDI) spoke of “two lost years” in an interview with the “Süddeutsche Zeitung”. One reason for his anger: The Chancellor, as other association representatives also complain, does not seem to take companies’ concerns seriously enough; he often brushes them off with the sentence: “The lawsuit is the merchant’s song.”
Next Monday, Russwurm and Scholz will meet together again for the first time. The Chancellor is traveling to the opening of the Hanover Trade Fair, Germany’s most important industrial show. t-online spoke to Russwurm before the major event – about the right economic policy, the current economic outlook and the upcoming elections in Germany, Europe and the USA.
t-online: Mr. Russwurm, Chancellor Olaf Scholz was in China last week with a large business delegation. How much do you regret not being there?
Siegfried Russwurm: Not at all. There is a long tradition of the chairman of the Asia-Pacific Committee of German Business leading delegations to China, in this case Siemens boss Roland Busch. That was a completely normal procedure. No further participation by the BDI was planned.
Are you satisfied with what the Chancellor has achieved for the economy in the Far East?
The positive message is: There were constructive discussions, which is not a given in these times. Are all of the German economy’s problems with China solved? No certainly not. But it’s always better to talk to each other instead of about each other.
You recently made unusually harsh comments about Scholz; it seemed as if the tablecloth between you two had been torn. How frosty will your meeting at the Hanover Fair be?
The Chancellor and I recently met again and exchanged ideas. We now both understand better where each other has different views and why. We’ll be together next time for the opening of the Hanover Fair. I am looking forward.
But it sounded different at the end.
There are factual differences. The Chancellor argues with what the traffic light coalition has done in the last two years to support the German economy. I don’t want to contradict that. But what is crucial for us is: What resonates with companies? What kind of relief and location improvements do you feel? The data from economic research institutes supports our assessment of the standstill. We have now agreed to continue discussions to consider how we can better bridge both perspectives.
The government is currently struggling to find the right course to get the economy back on track. Do you still trust the traffic light to succeed?
It is high time for the government to flip the switch if there is to be any significant improvement in the year and a half until the next federal election. The traffic light is running out of time. My appeal is therefore: The federal government must act boldly and unitedly. The proposals are on the table. They just have to be implemented.
You presented your ten ideas for more momentum in the economy some time ago. Which three of these are the most important for the industry?