Deutsche Bank chief tells Germans: Work longer and harder$1:
“Investors are already doubting our ability to reform, but especially our ability and our will to perform,” Sewing said at the Handelsblatt banking summit in Frankfurt.
“More growth in Germany will come only if we also change our attitude to work; if we are prepared to work differently, but overall to work more and harder.”
Sewing said that EU citizens work about 34 hours a week on average compared with about 28 hours in Germany.
He argued that Germany should embrace longer work-weeks. “We won't manage it with an average of 28 hours per week and a pension at 63,” he said.
The euro area's biggest economy has been digesting a slate of negative economic data recently.
You will have to work harder, till you die, in order that we meet our investor expectations and get our Board bonuses.