SPD anti-capitalist rhetoric annoys US investors

29th April 2005, Comments 0 comments

29 April 2005, BERLIN - American firms investing in Germany are none too pleased with SPD leader Franz Müntefering's recent criticisms of capitalism, and may decide to take their money elsewhere, according to a report in the Berliner Zeitung newspaper.

29 April 2005

BERLIN - American firms investing in Germany are none too pleased with SPD leader Franz Müntefering's recent criticisms of capitalism, and may decide to take their money elsewhere, according to a report in the Berliner Zeitung newspaper.

The newspaper quotes Lutz Raettig, the chair of the American chamber of commerce in Germany (AmCham) as saying that "every multinational company has very many options when it comes to investment". He added, "Mr Müntefering has hardly made the Germany option any more attractive."

Raettig, who is also chair of the supervisory board of the investment bank Morgan Stanley in Germany, was particularly unimpressed with Müntefering's comparison of investors with locusts. "These statements are unacceptable," said Raettig. "They deter investors."

He defended investors against the accusation that they hollowed out bought firms. "In many cases they even finance restructuring," he emphasised, adding that American companies currently employee 1.4 million people in Germany.

[Copyright Expatica News 2005]

Subject: German news

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