“Not every company will survive”

Munich Oliver Bäte sees Germany in an economic war that will claim economic victims. At the same time, however, the Allianz boss warns in an interview with the Handelsblatt against underestimating the performance of domestic companies.

In Bäte’s opinion, the social security systems must be fundamentally reformed in order to avoid a collapse. But the manager also sees a need for reform for his own company after the multi-billion dollar scandal at the fund subsidiary AGI.

Read the entire interview with Oliver Bäte here:

Mr. Bäte, a year ago you warned in very clear terms that Germany’s business model was at stake. Twelve months later, Russia has largely halted its gas supplies and Europe is concerned about energy infrastructure following the sabotage of the Nord Stream pipelines. What do you see when you look at the economy today?
We are at war. In the last few weeks, the federal government has finally called it that.