German recession ‘inevitable’ – Deutsche Bank ...News

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German recession ‘inevitable’ – Deutsche Bank
Soaring energy costs are hurting EU’s largest economy, according to CEO Christian Sewing The engine of European economic development, Germany, is set for a contraction, Deutsche Bank CEO Christian Sewing warned this week, as cited by CNBC. According to the media outlet, Sewing said in a speech at the Handelsblatt Banking Summit in Frankfurt that the war in Ukraine “destroyed a number of certainties” on which the global economic system had been predicated over the past few decades. He reportedly cited disrupted global value and supply chains, along with a bottleneck in the labor market and a shortage of gas and ele

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