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Oliver Hermes BrandEins

News

01-Jul-2020

Investing in Europe’s future

Oliver Hermes BrandEins

Oliver Hermes, President & CEO of the Wilo Group and Chairman of the German Eastern Business Association.

Handelsblatt newspaper features guest contribution by Oliver Hermes

The coronavirus pandemic represents a performance test for Europe in particular. European solidarity is currently being subjected to a litmus test not just in terms of health, but also with regard to economic questions.

Against this backdrop, the Wilo Group’s President and CEO, Oliver Hermes, has written an essay detailing the importance and necessity of building a sovereign and unified Europe – a Europe that is more than just the US’s junior partner in matters of security, and more than just China’s junior partner when it comes to business.

“A European industrial strategy worthy of the name is a central requirement for this. Having taken on the presidency of the Council of the EU, Germany now has both the opportunity and responsibility to play a major role,” says Oliver Hermes.

In his essay, Hermes identifies the necessity of issuing Eurobonds from the perspective of a globally active industrial business. He sees the development of an EU geopolitical strategy and subordinate sector strategies – such as, for example, a security and industrial strategy – and the creation of an EU future fund as the most important conditionalities for the issuing of communal European loans.

Short versions of the essay have been published as guest contributions in the Handelsblatt (1 July 2020) and Süddeutsche Zeitung (10 May 2020) newspapers in Germany and in the Le Monde (11 May 2020) newspaper in France.

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