German lawmakers criticize Scholz and Merkel over Wirecard

German lawmakers have condemned Finance Minister Olaf Scholz Wirecard scandalsaying that he was politically responsible for the failure of financial control in Germany, which revealed the saga.

The report of the opposition legislators, which is back months of parliamentary investigationHe said that Chancellor Angela Merkel was “extremely naive” about the lobbying efforts of the technology company, which went bankrupt in June last year after admitting to missing 1.9 billion euros from its accounts.

As sued Wirecard auditor EY և the company’s supervisory board, saying they too had failed in their oversight role.

“The Wirecard scandal is more than just an accounting scandal,” the authors wrote. “This is the biggest financial scandal of the stock exchange [Germany’s] post-war history. “

This was made possible, they say, by a “collective failure of control”, “the German siege on non-Germans” and “the longing for a digital champion who could enter the Chinese market”.

Scholz, the center-left Social Democrats’ candidate for chancellor in the Bundestag elections in September, declined to comment. In a statement, EY Germany said it had not received the report, so it could not comment on the content.

The 675-page document, drafted by the opposition Free Democrats (FDP), the Greens’s left-wing Di Linke, was published as a dissenting opinion on the final report of the parliamentary inquiry, which is likely to be formed by the ruling parties. SPD.

Although opposition lawmakers did not point fingers at Merkel, they said she “showed too much naivety” in dealing with one of Wirecard’s top lobbyists, the former defense minister. Karl-Theodor zu GutenbergHe persuaded her to bring up the company in talks with Chinese officials during a trip to Beijing in 2019.

The report also blamed the Financial Intelligence Unit, Germany’s main anti-money laundering and anti-terrorist financing agency, and BaFin, the German financial watchdog. Both are overseen by the Ministry of Finance.

“For every public accusation against Wirecard, BaFin has sought to find a way to keep its hands folded,” the report said. is a victim of the Anglo-Saxon conspiracy of the financial media. ”

The deputies noted that BaFin’s reputation could only be restored through a “cultural revolution”, adding that “the scale of the observed shortcomings” was previously “incomprehensible”.

It is noteworthy that the report criticized the IMF, Rolf Bozinger, Secretary of State for Finance.

The deputies said that the parliamentary inquiry was not properly informed about the very detailed suspicious activity report submitted to Commerzbank in February 2019 by the IMF. But the IMF handed it over to criminal prosecutors only after the company collapsed.

The inquiry came to light only after Commerzbank warned the IMF after the public broadcaster Bayerischer Rundfunk reported confidential documents. Deputies convicted Bozinger of distorting key information in documents submitted to the commission.

Deputies said Scholz and his deputy, J Կrg Kukies, who oversee the finance ministry’s finance markets, bore the brunt of “abuses against the authorities”.

Bosinger and Kukis declined to comment.

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