Cum-ex scandal: The noose is tightening around the chancellor

Created: 2022-08-20 06:11

By: Georg Anastasiadis

Olaf Scholz rejects any allegations in the Warburg Bank scandal.

(Symbol photo) © IMAGO/IPON / Klaus Haag

Gaps in memory do not necessarily contribute to the credibility of Olaf Scholz.

If more incriminating material comes to light, things will get tight for the chancellor, comments Georg Anastasiadis.

Happy is he who forgets.

Olaf Scholz has "forgotten" a lot since his time as Hamburg mayor - in particular his meetings with the heads of the Warburg Bank, which are now well documented, and what was discussed there.

As a result, the financial authorities of the Hanseatic city released the private bankers – who are generous SPD party donors, by the way – from paying back taxes of 90 million euros, which would actually have been due because of fraudulent cum-ex tax transactions.

That stunk to high heaven.

But the gaps in knowledge have not harmed Scholz's career.

Until now.

Chancellor Olaf Scholz has to fear further incriminating facts

But now the noose around the Chancellor's neck is tightening.

The fact that Scholz stuck to his line when he was questioned again by the Hamburg investigative committee yesterday, that he had no influence, doesn't change anything - the memory apparently goes that far.

In the meantime, however, the capable investigators at the Cologne public prosecutor's office believe they have clear evidence that incriminating data was deleted from Scholz's mayor's office.

The public prosecutor's search of the former e-mail inbox of an incumbent chancellor is an unprecedented event in the history of the republic.

Scholz also has to fear that further incriminating facts will be discussed in the course of the upcoming proceedings against the bank owners.

Scholz is presumed innocent until proven otherwise.

However, his credibility has been battered, even if the FDP bravely expresses their “full trust” in him.

Should the public prosecutor's office come into possession of information in the course of further investigations that justify the opening of criminal proceedings, he would no longer be able to retain his position as chancellor.