FRANKFURT—Deutsche Bank chief Christian Sewing, painting a bleaker assessment of the Germany economy, on Wednesday warned that China was a considerable risk for the nation and that Europe needed big banks to fend off American competitors.
Sewing, speaking at a conference in Frankfurt, said Germany would “no longer be able to avert a recession”.
He said the country must now face the “awkward question” of dealing with China, given its “increasing isolation and growing tensions”.
“Reducing this dependency will require a change no less fundamental than decoupling from Russian energy,” Sewing said.
Sewing renewed calls for eventual cross-board banking consolidation in Europe….