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Germany today



This message from George Sassoon confirms what Christopher Jones has been saying about Germany: "Companies as large as Deutsche Bank are planning to leave Germany, tired of inflexible labour laws, high unemployment and sluggish growth. Senior executives at Deutsche Bank have begun to discuss schemes that would enable it to move from Frankfurt, potentially to London. A senior Deutsche Bamk executive told the Sunday Times (2/23/03), "life in Germany is like having a cement block welded to the bottom of your foot". Another Deutsche official said "How much worse do you want it to become? Unemployment is terrible, the labour laws are ridiculous and our share price is being dragged down by underperforming German companies. We need to find a way out of this", George is going to Germany later this year and will sample grass-roots opinion.

Ronald Hilton - 2/27/03


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