David Folkerts-Landau was born on May 21,1949 and is a German born economist.
18 Facts About David Folkerts-Landau
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David Folkerts-Landau became member of the Deutsche Bank Group Executive Committee in 2012 and was named chief economist of Deutsche Bank on 1 June 2012.
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David Folkerts-Landau joined Deutsche Bank's London office in October 1997.
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David Folkerts-Landau was a member of the Markets division executive committee headed by Anshu Jain, and later the investment bank executive committee.
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David Folkerts-Landau has kept a low public profile as chief economist and is better known as a confidant to Anshu Jain.
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David Folkerts-Landau was born in north-west Germany and at 14 years old was sent to a Scottish boarding school.
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David Folkerts-Landau is reported to maintain links to his birthplace.
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David Folkerts-Landau viewed the sub-prime mortgage crisis as the result of fraud rather than financial innovation such as CDOs.
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David Folkerts-Landau believed that the cause of the crisis was ineffective supervision and regulation of financial markets.
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In June 2013, David Folkerts-Landau argued that the European debt crisis was the biggest force for European integration.
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David Folkerts-Landau believed that Germany stimulating demand and raising wages would be "disastrous for the Euro-zone viz-a-viz the rest of the world".
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David Folkerts-Landau argued that Spanish youth unemployment was not due to austerity and instead could be solved by "changing trade union laws" as they were keeping labour markets closed.
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In December 2013, David Folkerts-Landau advocated the ECB engage in "genuine quantitative easing" given that he predicted growth in the euro zone to be low "pretty much as far as the eye can see,".
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In September 2014, David Folkerts-Landau wrote a critical analysis of the prospects of Scottish independence, saying a Yes vote would go down in history as "a political and economic mistake" which was indirectly quoted by former Labour prime minister Gordon Brown.
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In 2010 David Folkerts-Landau predicted that the Euro-zone would survive the debt crisis.
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On 19 June 2015, David Folkerts-Landau predicted that in relation to Greece receiving funding from the Brussels group before the end of the month there was a "60 percent probability of no deal, [which would be] followed by capital controls".
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On June 27,2012, David Folkerts-Landau spoke before a German parliamentary commission on commodity markets and food price inflation.
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David Folkerts-Landau was not named in any of the actions, but a fellow group executive committee member was mentioned as having been aware of issues around the fix since October 28,2008.