Siemens chief warns of investment threat after terrorist attacks

Posted on 23 Nov 2015 by Callum Bentley

The chief executive of industrial giant, Siemens, has said the impact of recent terror attacks in Paris and rising political instability in Europe is threatening investment form business.

Speaking with the Financial Times, Joe Kaeser commented: “Investment is about believing, about the future, and [when] events like that happen, people will wait.”

Siemens employs more than 350,000 people, making it Europe’s largest industrial group of companies.

However, it wasn’t just Mr Kaeser who expressed his concern at the risks to business currently happening in parts of Europe.

In the same article, Italian Finance Minister, Pier Carlo Padoan said that the Paris attacks had impacted the economic recovery of the Eurozone.

“The biggest economic damage from these attacks is on confidence and confidence is a crucial element in this phase,” Padoan told the FT.

“It is indispensable to help countries exit the crisis. Any elements that undermine confidence are very dangerous.”