Sign in / Join

Germany: Schäuble to leave the Ministry of Finance

Ⓒ AFP/Archives – THOMAS KIENZLE – | German Finance Minister Wolfgang Schäuble in Offenburg, Germany, September 18, 2017

Wolfgang Schäuble is about to leave his position as German Finance Minister to take over the presidency of the Chamber of Deputies after eight years in office, said Wednesday his conservative party, the Christian Democratic Union of Angela Merkel.

At the age of 75, Wolfgang Schäuble, who was holding the finance ministry with an iron fist, now intends to take over the presidency of the Chamber of Deputies following Sunday’s parliamentary elections.

“We are going to propose Wolfgang Schäuble” for this function and “we are delighted that he said he is ready to be a candidate,” said Volker Kauder, leader of the German Conservative parliamentary group (CDU / CSU).

He confirmed information that had previously filtered from sources close to his training.

Wolfgang Schäuble, a loyal supporter of Chancellor Angela Merkel, although not always in agreement, was the subject of friendly but growing pressure for several days to leave her post in the future government, particularly complex between the Conservatives, the FDP Liberals and environmentalists.

The Liberals have indeed made no secret of their ambition to deal with finance. With a free seat, Wolfgang Schäuble will help Angela Merkel.

The departure of Wolfgang Schäuble will be an important break in Germany and Europe.

This political figure is often perceived elsewhere in Europe as an emblem of orthodoxy and Berlin’s lack of flexibility in public finances.

He particularly advocated Greece’s exit from the euro zone at the peak of the financing crisis that the country was going through in 2015. It was the Chancellor who had finally decided not to follow his minister in this direction.

Terms of service