Europe Looks to Germany

Goldman Sachs Exchanges

Julia McGonagle

Business

4.4 • 1K Ratings

🗓️ 18 September 2017

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

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Summary

Jörg Kukies, co-CEO of Goldman Sachs in Germany and Austria, discusses Germany's unique role within Europe and on the global stage during a period of significant political and economic developments in Europe and globally. This podcast was recorded on September 13, 2017. This podcast should not be copied, distributed, published or reproduced, in whole or in part. The information contained in this podcast is not financial research nor a product of Goldman Sachs Global Investment Research. Neither Goldman Sachs nor any of its affiliates makes any representation or warranty, as to the accuracy or completeness of the statements or any information contained in this podcast and any liability therefore (including in respect of direct, indirect or consequential loss or damage) is expressly disclaimed. The views expressed in this podcast are not necessarily those of Goldman Sachs, and Goldman Sachs is not providing any financial, economic, legal, accounting or tax advice or recommendations in this podcast. This recording should not be relied upon to evaluate any potential transaction. In addition, the receipt of this podcast by any listener is not to be taken as constituting the giving of investment advice by Goldman Sachs to that listener, nor to constitute such person a client of any Goldman Sachs entity. Copyright 2017 Goldman Sachs. All rights reserved.

Transcript

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0:00.0	This is exchanges at Goldman Sachs where we discuss developments shaping markets, industries in the global
0:13.8	economy. I'm Jake Seawert and in addition to hosting this podcast I'm Global Head of Corporate Communications
0:19.5	here at Goldman Sachs. Today we're going to be taking a look at what's happening in Europe from the vantage point of one of its strongest operators, Germany.
0:27.0	My guest today is Yorg Kucus, co-Cueo of Goldman Sachs in Germany and Austria.
0:32.0	York, welcome to the program.
0:33.4	Thank you.
0:34.4	So we're approaching an election in Germany
0:36.6	that some commentators have cast as a little boring,
0:39.0	especially relative to some of the recent elections in Europe.
0:41.9	But a boring election brings with it some stability,
0:44.3	which is no doubt welcome to some investors.
0:46.5	How would you characterize the state of the German market environment today as we approach
0:50.8	this election?
0:51.8	Well, certainly the characterization of the election
0:54.1	is boring has its merits the amount of consensus that the major parties have in
0:58.4	Germany is very very large which I actually consider as something good.
1:03.0	If I see the elections that we've had in France or Italy with some very, very large electoral votes going to xenophobic parties, anti-European parties.
1:15.0	I actually have to say I'm quite happy living in a country where the consensus is
1:19.5	deeper European integration, no one's talking about leaving the Eurozone, there's overall a very positive
1:26.0	welcome culture towards immigration.
1:29.0	So in that sense, having a broad consensus in those directions, I would say is positive and it does give a lot of
1:35.0	stability which investors of course find us something good.
	...

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