“In the realm of ideas everything depends on enthusiasm,” wrote Goethe. “In the real world everything rests on perseverance.” Appointed in July as the new co-managing partner of Hengeler Mueller, Georg Seyfarth embodies enthusiasm and perseverance – qualities that he and his colleagues will surely need.
Alongside their fellow German independents, the country’s leading corporate advisory firm faces some harsh realpolitik: the mirage of robust economic growth in the EU’s largest economy has once again disappeared over the horizon.
In October the German government savagely cut its GDP forecast for 2014 to 1.2% from its previous estimate of 1.8%. Forecasts for 2015 have been similarly reduced from 2% to 1.3%, while the recent European Commission projection is even lower at 1.1%.