Bloomberg News

Ackermann Says EU Must Implement Structural Reforms for Growth

December 20, 2011

Dec. 20 (Bloomberg) -- European Union member states should implement structural reforms to stimulate economic growth in the region while not weighing on national budgets, Josef Ackermann, chief executive officer of Deutsche Bank AG, said.

Ackermann, who commented in a speech in the western German city of Essen today, said the region’s labor markets should be made “more flexible” and called for less regulation in some sectors of the economy.

There is also “enormous potential” in several EU countries for governments to improve their budgets in part by selling state-owned assets, he said.

To contact the editor responsible for this story: Nicholas Comfort at

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