Deutsche Bank chief tells Germans: Work longer and harder

Deutsche Bank CEO Christian Sewing has called on Germans to increase their work hours to bolster the country's economy, highlighting that the average workweek in Germany is about 28 hours, significantly lower than the EU average of 34 hours. Speaking at the Handelsblatt banking summit, Sewing emphasized that a change in work attitude is essential for economic growth, stating that Germany cannot sustain its economy with such low working hours and a pension age of 63. He pointed to recent negative economic indicators, including a contraction in the German economy and a persistently negative manufacturing purchasing managers index (PMI). Additionally, Sewing expressed concern over the rise of the right-wing extremist AfD party in recent regional elections, warning that political instability could undermine Germany's attractiveness as an investment destination. He noted that the country's strong companies have historically been a key factor for investors, but this perception is now at risk due to political developments.

- Deutsche Bank CEO urges Germans to work longer hours to improve economic performance.

- Current average workweek in Germany is 28 hours, compared to 34 hours in the EU.

- Recent economic data shows contraction and negative industrial sentiment in Germany.

- Political instability, highlighted by the rise of the AfD party, may deter investment.

- Sewing stresses the need for a shift in work attitude to foster growth.