Demand for goods in GDR will create boom for Western businesses

This is an English summary. The full article is only available in German.

15 million GDR citizens want the same standard of living as their Western counterparts, creating a huge demand of goods and a boom for Western businesses, says Alfred Herrhausen, chair of Deutsche Bank. He also demanded more jont ventures between the two parts of Germany.

Otto Wolf von Amerongen, speaker of a business association concerned with the East, thinks quick and complete convertibility of the GDR currency impossible. For him, the most important steps towards economical reform are more flexibility, decentralisation and abolishing subsidies.