Axel Weber from UBS: "The need must be even greater"

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The outsider: Axel Weber

 had made a name for himself as an economist, political advisor and central banker before he took over as Chairman of the Board of Directors at UBS in May 2012

Photo: 

[M] Maurice Haas for manager magazin

History repeats itself for

Axel Weber

(63).

Twelve years ago he was head of the Bundesbank during the financial crisis and one of the most important crisis managers in Germany.

Now, as Chairman of the Board of Directors of UBS, he is one of those trying to cushion the consequences of the corona pandemic in Switzerland.

Before the interview with manager magazin, Weber discussed the next steps at meetings with the Swiss central bank, Swiss Finance Minister Ueli Maurer (70) and bankers in Bern.

"It is helpful to establish such discussion formats in good times, and we have had them here for around eight years," says Weber, "that then proves itself in times of crisis."

manager magazin: Mr. Weber, you recently said that the economy was moving on a terra incognita during the corona crisis.

As an experienced economist, do you really have no idea where we are headed?

Axel Weber:

There are of course a lot of economic forecasts.

These projections predict a deep recession this year - deeper than anything we've seen in the post-war period.

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