Mercedes CEO: More effort needed to prevent right-wing shift
Mercedes CEO Källenius warns of economic decline, which could be followed by a right-wing shift. Like Merz and Söder, he demands more commitment from employees.
Ola Källenius in front of a Mercedes-Benz EQS
(Image: Mercedes-Benz)
Mercedes CEO Ola Källenius warns that Germany's continued economic decline could lead to a right-wing political shift. In an interview with "Der Spiegel" magazine, the Mercedes CEO said: "Germany has been developing in the wrong direction economically for about 10 to 15 years." If countermeasures are not taken now, "then the populists from the right will come, who have no solution for anything."
Källenius sees a lack of willingness to perform as a possible reason for economic weakness. It's as if, "you say before a World Cup that we're training enough, even though everyone else is training twice as much." But as is well known, that's not how you become world champion. With this image from the world of sports, the Mercedes CEO then aligns with Chancellor Friedrich Merz (CDU), who stated in January: "With work-life balance and a four-day week, the prosperity of our country that we have today cannot be maintained in the future, and therefore we must work more." This is seconded by Bavarian Minister-President Markus Söder (CSU), who told the Bild newspaper last week that people must "work longer" again.
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Labor costs and regulation endanger location
Källenius then followed up his description of the danger posed by right-wing populism with the usual threat to the location that is typical for this line of argument. He stated that Germany has the highest labor costs globally, and if "entrepreneurship and investments are no longer worthwhile in Germany," capital will flow to other locations. Källenius considers part-time work to be "a wonderful instrument" for reasons such as childcare or elder care. Thanks to part-time work, "many people could be retained by their employers or brought back into the labor market." Apart from that, Germans as a whole need to work more again so that "our unique productivity machine doesn't falter even more."
The Mercedes CEO wishes for European industrial policy: "We need to move away from obligations and penalties and towards market-based incentives and massive investments in infrastructure. Whether it's chemicals, steel, or cars – we're making the same methodological mistakes everywhere." In his opinion, Europe is losing its economic strength through excessive regulation.
(fpi)