this Thursday, the Bundestag debated the Lessons of the financial crisis, which began ten years ago. Especially the greens and the Left think it was too little has been learned. For Gerhard Schick, the green financial experts, it is the farewell debate – he wants to continue to make extra-parliamentary pressure with his “citizens’ movement financial turnaround”. As a financial market, critics from the service, in Parliament, a left follow: Fabio De Masi, who has moved to 2017 from the European Parliament to Berlin, and as group Vice entry could be him.
The German-Italians, Born in 1980, and the Hamburger Left-hand list in the Bundestag, elected, describes himself as an “investigative politicians”. As such, he risked a bold lip, but also knows what he’s talking about. In Strasbourg, he was in the committees in connection with the “Luxembourg Leaks” of secret tax deals in the country, with international companies and “the Panama Papers”. The fight against money laundering, tax evasion and tax avoidance are to be in Berlin in his profession. His debut: In the spring, he made persistent Requests to the government, Finance Minister, Olaf Scholz, in terms of quite quickly a restatement of the financial investigators in the customs. The troupe is also as a Financial Intelligence Unit., what sounds more powerful than it is in reality the case. De Masi took advantage of his good Union contacts, in order to make pressure. The money-laundering Problem, start with the basic books, says De Masi. “That’s where the beneficial owners are not. Therefore, Germany is a gangster Paradise, in the risk of money laundering.“ The Problem is exacerbated because the Federal government and the countries were established at the tax police to bad.
“the criminal record of a mafia clan”
Clear word De Masi is also a further issue of concern to the policy even ten years after the beginning of the financial crisis: the banking system. “Deutsche Bank has a criminal record like a mafia clan,” he said. “The Bank must be split in order to process controls and to protect taxpayers. A merger with Commerzbank is not a solution.“ The scenario should be played in the Ministry of Finance. De Masi holds a Fusion is wrong: “Two Zombies in the bed of the witnesses is not a beautiful child. We don’t need the mega-banks in Germany.“ The large companies financed investments mainly through equity and profits. “And small businesses in need of savings banks and development banks.”
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De Masi order is not the enemy of market economy. “The left has nothing against markets if you work.” In the most important market that is not the case. “Financial markets have now reached a nuclear Dimension. Your function should actually be to direct capital investors. Thus today’s financial markets have to do only a little.“ The real economy is only the icing on the cake. Stronger regulation was necessary. Since he sees even by people from the other side confirmed. “The radical narrative is simply not true. The real Ordoliberals understood that markets need to be regulated – because otherwise economic power, which slays the competition.“
“Classic Oligopolists”
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financial transaction tax Berlin and Paris specken ab
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And with such powers, he has long been at work. “Blackrock & co. are classic Oligopolists,” he says of the big global asset managers, which were everywhere, and so ultimately never lose. France and Germany aim for now instead of a comprehensive financial transaction tax is only the significantly stripped-down Version of a EU stock exchange tax, neither the turbo trading limits the scale of the derivatives are recorded, is a disappointment for him. A statement: “President Macron wants a not a real tax on financial transactions, including derivatives, because the French universal banks are pumped full of toxic assets.” And to the topic of Debate on Thursday, the Arise and prevention of financial crises, it also has a unique opinion. “If a lot of cheap money in the market, incomes on the rise, but, then, it is not invested, because the company does not expect to be in sales. The money flows into the financial markets and leads to stock price bubbles.“
