After a three-year break due to the pandemic, Deutsche Börse was able to celebrate its "annual opening" in Eschborn again.

In front of a good 600 guests from the world of finance and politics, including Hesse's Economics Minister Tarek Al-Wazir (Greens) and Finance Minister Michael Boddenberg (CDU), guest speaker Christine Lagarde reaffirmed the tighter interest rate policy of the European Central Bank (ECB) on Monday evening.

"Clearly and steadily" interest rates must continue to rise, said the ECB President.

Inflation rates at levels above the 2 percent target should not take root, said Lagarde.

To the sounds of "Wind of Change", the CEO of Deutsche Börse, Theodor Weimer, entered the stage with the wish that this wind might blow again, especially in Russia.

But Weimer is also hoping for changes in Europe and Germany.

He sketched a gloomy picture, based on declining investments in Europe and outflows of funds from the local capital markets.

"We just had to experience the full hardness of the capital market," said Weimer, referring to Linde's departure from the Frankfurt Stock Exchange.

"It's bitter, it hurts." But ultimately, the liquidity on the US stock exchange is greater, and the ratings for companies are better there.

"For companies based outside Germany and with a high market capitalization, the Dax is irrelevant," admitted Weimer.

Public equity, i.e. the stock exchange, is suffering from the large private equity in Germany.

"These are family businesses for us," said Weimer.

"Each of these companies is missing in the Dax."

Of the ten largest wealth managers in the world, seven come from the USA and only Allianz from Germany.

Weimer referred to figures from the World Federation of Exchanges, according to which 20 years ago the value of listed companies in the world roughly corresponded to global economic output.

Since then, this figure has risen from 100 to 130 percent.

Germany, on the other hand, has fallen from an already below-average 65 percent to 59 percent.

"We are one of the weakest countries," Weimer complained, which is confirmed by a look at the ranking list

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In this ecosystem, however, the stock market has to move, said Weimer, but hopes for improvement and presents itself as a fighter.

Above all, he has high hopes for share-based pensions: “When it comes, young people will develop a completely different relationship with the stock market.

This is how we can bring the capital market into people's minds and hearts," said Weimer.

He hopes that this topic will now be covered and that Germany will not just remain the world champion in announcements.

Stock exchange supervisory board chairman Martin Jetter warned that the extensive investments in energy, health and mobility over the next few years can only be financed reasonably with the help of the capital market.

"Most recently, there were only inflows into the German capital market because German companies were valued so low," said Weimer.

"Let's finally complete the capital markets union in Europe," demanded Weimer.

The European Listing Act and the Future Financing Act also give him hope.