Annual Reception at The Cube: “To be a player, and not a playing field”

Further information

23 Jan 2023

07:00 PM CET

The Cube
Eschborn

Organizer: Deutsche Börse AG

“We need to focus on the investors’ point of view when looking at Europe as a business location”, CEO Theodor Weimer said at the Annual Reception of Deutsche Börse in Eschborn. On 23 January, after two years of Covid-related pause, this event took place for the 27th time. In addition to Weimer, the Head of the Supervisory Board Martin Jetter and the President of the European Central Bank Christine Lagarde gave their speeches to an audience of 600.

Opportunities through technology

In his welcome address, Martin Jetter drew attention to the opportunities emerging from technological progress allied with strong capital markets for Europe and the world. He illustrated his message by drawing on examples from the energy, health, and automobile sectors. The amounts in the three-digit billion range that needed to be invested here could not only be shouldered by the state. Quite the contrary: “The state must act as an enabler for others”, he said.

A new global map for Europa

Christine Lagarde pointed out the emergence of a “new global map” for Europe. This map was characterised by the fragmentation of global trade, the reshoring of production, and the weakening of international supply chains. From this, three challenges were emerging for Europe. First, Europe’s interests needed to be defended: “We need to be a player, and not a playing field”, she quoted Dutch Prime Minister Mark Rutte approvingly. Second, the Capital Market Union needed to be completed to tap new sources of growth and drive forward the green and digital transformation of the economy. And regarding the 2 per cent inflation target of the European Central Bank – her third and highest priority – she said: “We must bring inflation down. And we will deliver on this goal.”

In favour of a strong European Capital Market Union

In his closing words, Theodor Weimer made clear that not only Germany but also large parts of Europe were suffering from a reform backlog, causing investors to lose their confidence.

At the same time, the CEO of Deutsche Börse made a passionate plea for a strong EU and stood up for a European Capital Market Union.