Martin Blessing had great ambitions: A second “national Champion” wanted to create the former boss of Commerzbank, in 2008, and for the larger Dresdner Bank. However, the Timing could hardly have been worse: In August 2008, Blessing announced the Acquisition two weeks later, the US Bank Lehman Brothers goes bankrupt and triggered the global financial crisis. Instead of going to the national Champion, Commerzbank will become a national Problem. On 8. January 2009 nationalized Blessings Institute part.
Previously, the Federal government had provided the Institute about the Bank rescue Fund Soffin, € 8.2 billion in the Form of a silent participation. An enormous sum is not sufficient, however. The Federal government must Deposit the same amount again on it. For this, he receives a share of 25 percent plus one share. The state. in 2009 the biggest single shareholder in Commerzbank, but he also holds the blocking minority Without his consent, nothing can be done at the Institute of there first Ten years later, the share of the state in the institution is not quite as large: However, the Federal government today still holds 15.6 per cent in Commerzbank. Politicians of the CDU and the FDP are calling for an exit plan.
what time is sold to the state his shares?
“The involvement of the Federal government is not a permanent condition,” says Antje Tillmann, Finance policy spokeswoman of the Union parliamentary group in the Bundestag. It was, therefore, properly, “to examine ways for an exit,” she told the daily mirror. Similar to Florian Toncar, financial policy spokesman of the FDP commented: “The Federal government must now find a clear strategy on how you will completely from Commerzbank back,” he said this sheet. “The state can not simultaneously be involved in a certain Bank, and on the other hand, all banks supervise as a neutral arbitrator according to the same Standards.” Both emphasize, however, that it arrives at the right time. For the taxpayer the best possible economic result was “” crucial, says Tillmann. “The state contribution must be fairly remunerated,” says Lothar Binding, financial spokesman of the SPD.
The Problem: Since the introduction of the state of the price of the Commerzbank’s strong like that. The share package, for which the Federal government has once 5.1 billion euros spent today is only 1.2 billion euros in value. The rate would have to rise by a multiple, so that the Federal government comes without major losses from the commitment. This is currently not foreseeable. Commerzbank is still in the restructuring. By the end of 2020, among other things, 7300 be deleted. Lisa Paus, financial policy spokesperson of the Greens, says: “The government bailout of Commerzbank, is a multi-billion loss for the taxpayer, the only question is when this is realized.” From today’s perspective, the Federal government had paid too much for the shares. “This is not correctable and is now paying the price,” says Paus.
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order of The Federal Ministry of Finance, it is hoped, however, to get in the future, once a reasonable price for the Commerzbank share. “We want to achieve for the business location Germany and the taxpayer perspective, a good economic result,” said a spokesman on request. In a hurry, you don’t have it, but: “We are under some time pressure.”
is Also a Fusion with the German Bank is discussed
Instead of the sale of the shares is in the Ministry of Finance is currently already other plans. So the Minister Olaf Scholz (SPD) could drive a merger of Deutsche Bank and Commerzbank. A project is politically controversial. Although all are agreed that Germany needs at least one strong Bank. But whether it is achieved through a merger? Even in Scholz’s own party, there are doubts. So the SPD politician, Binding says, with a Fusion of the two, he was not so happy: “This goes in the direction of a monopolistic structure.” Toncar of the FDP says: “it was the combination of two institutions with different problems, still no strong and viable Bank.”
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Ten years of the Lehman Brothers Bankruptcy, A new financial crisis would be not to fight
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At Commerzbank, after all, Chef Martin Zielke, after two lean years has made for 2018 with a profit in view. Shareholders of how the Federal government can hope for a dividend of perhaps 20 cents. More than a consolation for the taxpayer but is not.
