State enterprise: Super Supervisory Boards Scheuer & Scholz?

Olaf Scholz

For his proposal to pursue a more active industrial policy and promote “European champions”, Economics Minister Peter Altmaier (CDU) had to put up with criticism from regulators. However, two of his colleagues in the cabinet have long been acting as if politicians were better entrepreneurs: Federal Transport Minister Andreas Scheuer (CSU) seems to see himself at Deutsche Bahn as a kind of super-supervisory board that can set guard rails without involving the committees. And also Federal Finance Minister Olaf Scholz (SPD) apparently believes that he has considerable entrepreneurial flair.

“Confidential talks” on bank merger

Scholz and his advisors wanted the merger between Deutsche Bank and Commerzbank “absolutely”, writes Wirtschaftswoche with reference to “informed circles”. This is why political pressure is currently increasing: in “confidential talks”, it should be achieved that the CEOs Christian Sewing and Martin Zielke “shake hands”. The Federal Government still holds 15 percent of Commerzbank shares and is represented on the Supervisory Board by State Secretary Markus Kerber. We hope that those responsible will not allow themselves to be put under pressure and that they will also analyse recent economic history. Then it should quickly become clear: Political influence has more often harmed than used.