Deutsche Bank‘s global head of FX strategy, Bilal Hafeez, recently gave a speech at the annual Deutsche Bank Mittelstand (small and medium-sized enterprises) FX conference in Hamburg, Germany.
The bank’s research department transcribed Hafeez’s speech and sent it out to clients in a note.
The speech focuses on the euro area’s economic woes and the need for the currency bloc to move forward with further integration in order to be economically successful.
Hafeez opens the speech with a reflection on parenting and a child’s years as a “terrible teen.” Then, he makes an interesting comparison to the euro area, complete with a religious allegory.
Hafeez said the euro area needs a role model that people across Europe can respect. “I can only think of one figure that is respected by most Europeans and has never sinned, Jesus!” said Hafeez.
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