Germany’s finance ministry dropped ball in Wirecard scandal

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Germany’s finance ministry dropped ball in Wirecard scandal
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The Bundestag’s finance committee is grilling government and supervisory officials over Wirecard, including a top adviser to Angela Merkel

The Wirecard headquarters in Aschheim, near Munich, Germany. Picture: REUTERS/Andreas GebertThe main responsibility for the failure to pursue alleged irregularities at Wirecard lies with the German finance ministry, and Chancellor Angela Merkel’s office was also at fault, according to an opposition legislator.

“The chancellery were really frighteningly naive towards lobbying for Wirecard,” Lisa Paus, a member of the finance committee for the Greens party, said Wednesday in an interview with Bloomberg Television. “In particular, he outlined a 16-point plan on how we will monitor things more closely in the future and improve supervision,” Binding said Wednesday in an interview with DLF radio. He added that he is opposed to personnel changes at BaFin and said that no evidence has yet been provided that the authority’s president, Felix Hufeld, “made any mistakes.”

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