German business leaders react to the election results

The conservative CDU/CSU group won the most votes at Sunday's election. They could form a coalition with the Social Democrats, easing market concerns that Europe's largest economy would be run by a three-way alliance.

German Business Leaders React:

CHRISTIAN BRUCH, CEO of SIEMENS Energy:

"Germany needs to quickly regain its competiveness." Energy policy is crucial. It is essential to expand gas-fired plants, strengthen wind energy and modernize electricity grids, as well as ensure a reliable supply of raw materials. "It is crucial that democratic centrist parties quickly form a stable coalition to tackle these challenges."

Christian Sewing, CEO of DEUTSCHE BANK and President of the Association of German Banks:

"Germany needs a government who is willing and able to act quickly. Our country faces enormous challenges: our economy needs to be given a new start through fundamental reforms. The next legislative period must focus on growth and competitiveness so that Germany continues to be an attractive place for investors and companies alike.

GERMAN AUTO INDUSTRY VDA:

"Germany needs a stable, united government as soon as possible... Reforms and a strong, unified German presence in Europe are essential. German automakers are determined to serve the global automotive market from Germany. This requires a comprehensive competitiveness agenda. The industrial SME sector, which is the backbone of Germany's prosperity, cannot continue to bear high energy prices, excessive government bureaucracy and taxes.

BDI INDUSTRY AFFILIATION PRESIDENT, PETER LEIBINGER

"Now is the moment for a new start, with clear structural reforms. We must take resolute actions to increase growth and safety. We need to send effective signals of relief in the short term through less bureaucracy, and simplified approval procedures. We need an ambitious strategic plan to free companies from bureaucracy, taxes, and micromanagement by the state. "Everything that promotes security and growth must be at the forefront."

(source: Reuters)