The Chief Executive of Siemens Peter Löscher has released a statement detailing his thoughts on the recession and recovery. In the statement he emphasises the fact that European economic recovery is exceedingly fragile and he also states that there is a decoupling of expectations and the reality.

Löscher believes that it will take years for the market to return to a stable state – this year saw a 9% drop in industrial production which indicates the heights the industry will have to scale to re-reach the production levels of 2007.

Siemens have suffered hefty losses in the recession and are currently bracing themselves for what is sure to be a difficult year in 2010.