Deutsche Bank CEO Warns of Economic Fallout From War: Welt
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The full economic consequences of Russia’s invasion of Ukraine will only be felt later this year, warned Christian Sewing, the chief executive officer of Deutsche Bank AG in an interview with Welt am Sonntag newspaper.
“Many side effects of this war will only become apparent in the second half of the year,” Sewing said when asked if a recession looms if the war continues for longer. “Consumption will fall, inflation will rise anyway and may remain above 5% for longer.” Supply will also be tight due to disrupted supply chains, he added.