France’s economy poses the most serious threat to Europe’s recovery from a debt crisis that has crippled growth and driven unemployment to record highs, according to a survey of bankers and their regulators in Frankfurt.
Dorothee Blessing, who rose to become co-head of investment banking for Germany and Austria at Goldman Sachs Group Inc. in a career spanning two decades, is leaving the U.S. investment bank and securities firm.
Europe needs a finance minister and a fiscal administration that has the right to raise its own taxes and decide on the budgets of countries that don’t stick to the rules, Martin Blessing, chief executive officer of Commerzbank AG, said in an article published by Welt am Sonntag.
Commerzbank AG Chief Executive Officer Martin Blessing gave up his bonus for last year and cut the payouts by an average 17 percent across the firm, warning of higher costs and more pressure on revenue.
Lawmakers in euro-area nations should endorse a planned increase in the region’s rescue fund as they work toward greater fiscal integration, Commerzbank AG Chief Executive Officer Martin Blessing said.