The CEO of Siemens, Roland Busch, has delivered a stark critique of the German government’s economic policies, accusing them of hindering growth with overly cautious and narrowly focused approaches. In an interview with “Süddeutsche Zeitung”, Busch expressed deep dissatisfaction with current growth projections, dismissing them as “far too low”. While acknowledging a recent uptick in economic performance, he argued that celebratory rhetoric is insufficient and obscures a deeper systemic issue.
“We need to make it clear to policymakers that everything is moving far too slowly and is being thought of in too small a scale” Busch stated, emphasizing the necessity for a significant upward revision of growth forecasts. He specifically called for projections exceeding 2%, arguing that Germany possesses the inherent potential to achieve that level of expansion.
Busch’s criticism extends beyond mere growth numbers, focusing acutely on the burgeoning regulatory landscape surrounding data and artificial intelligence. He warned that excessive or poorly conceived regulations risk stifling innovation within Germany and across the European Union. “These regulations must be significantly revised and contradictions eliminated, ensuring they accelerate innovation rather than impede it” he insisted. The current environment, he suggested, presents a tangible impediment to Germany’s competitiveness on a global stage.
Further fueling a debate around European economic sovereignty, Busch defended Siemens’ decision to invest €1 billion in AI initiatives within the United States and China over the next three years. This decision, he clarified, is not antithetical to the goal of European self-sufficiency. Instead, he redefined sovereignty, advocating for a strategy of minimizing “critical” dependencies rather than pursuing complete independence. The rationale behind choosing the U.S. and China hinges on the comparatively less restrictive and more consistent regulatory frameworks found in those markets – a stark indication of the challenges facing European nations attempting to foster a conducive environment for AI development. The implication is clear: Europe’s ability to retain technological leadership is increasingly contingent upon a more agile and internationally aligned regulatory position.