As the New York Times reported in 2007:
More recently, in 2017 Ernst & Young investigated the extent to which corruption has become embedded and institutionalised within the German economy. This second phase roll out of German corruption proved as insidious as an invasion of Japanese knotweed, with crooked tentacles reaching into every crevice of German economic life. The rapid growth of online trading in Germany in the last five years has exacerbated the criminality - German firms trade corruptly and criminally with impunity on the internet as the German legal system provides few affordable remedies for their victims. And all this is done with the complicity and support of the German government.Wolfgang Schaupensteiner has never been so busy. From an office in central Frankfurt that is decorated with cartoons about corruption, Schaupensteiner has headed the tiny financial crime unit for this city, Germany's financial capital, since 1993. These days, his backlog of bribery, fraud and other white-collar crime cases runs into the hundreds, and he says he has a simple explanation for it.Corporate profits have surged across sectors ranging from finance to autos to energy, as German executives have turned the country into one of the world's largest exporters over the last five years. Illicit dealings helped create their success, he asserts, and that in turn has encouraged many executives to believe that crime does pay.On Wednesday, prosecutors in the southern city of Nuremburg raided multiple locations of the offices of Siemens, one of the country's most prominent companies, on suspicion that certain bribes may have been concealed as payments for services that were never provided. In recent months, DaimlerChrysler, BMW and Volkswagen have also been raided, put under investigation or even had employees taken into custody. "Globalization has become a motor for corruption in Germany," asserted Schaupensteiner, 58. "It creates dangerous potential if you do not control it."
A staggering 43 percent of German business executives polled by EY (formerly Ernst & Young) think bribery and corruption are fairly commonplace in Europe's economic powerhouse. That's a big jump from just 26 percent in 2015.
In Germany, 23 percent of the managers polled admit they would act in an "unethical manner" to move up the career ladder or secure higher salaries. Roughly 10 percent of German executives polled wouldn't rule out deliberately providing false information to others to help their own careers and fill their pockets.Whilst Germany is not alone in seeing a rise in economic corruption, the country is unique in being able to roll it out on an pan European industrial scale, leading an entire continent in implementing then covering up emissions testing, and now corrupting the trade in two-thirds of the continent's gas imports. The corrupt appointment of the German zealot Martin Selmayr to the heart of the EU raises suspicion that the repression of the truth and blocking of all measures to tackle corruption has begun with a German takeover of key appointments. Germany's scoring on independent international indices was summarised by a correspondent in response to the post below;
"VW's emissions-cheating scam, the Libor rate-rigging scandal, and [unlawful] collusion among companies as well as a raft of compliance violations have made the headlines quite frequently of late," says Stefan Heissner, who heads EY's Fraud Investigation & Dispute Services division.
He adds that stricter compliance rules that have appeared in the wake of major corporate scandals have not really changed the perception of widespread corruption in Germany.
Unlike the EU the UK does not attack commercial competitors using the legal system: the EU attacks companies like Intel, Google/Alphabet, Microsoft, Amazon, Chrysler, Fox, Facebook, Starbucks, Apple, Sony et al by using antitrust charges to further the interests of Eurozone technology companies.This deep and endogenous German economic corruption will not play well in the rest of Europe. The UK, the Netherlands and the Scandinavian nations, with low levels of corruption and high scoring of commercial rectitude and probity, will be feeling fouled by contact with German corruption - and will now be adding up the commercial losses that German crookedness has cost them. The southern nations will be aggrieved that they have been bullied, coerced and hectored by a deeply crooked nation wearing a false disguise of moral superiority. And eastern nations such as Poland and Bulgaria, countries Germany has robbed of billions of Euros in corrupt complicity with Gazprom, will be looking at concrete measures to get their money back.
Circa 2016 - in terms of shareholder protection the UK is 4th in the world behind Hong Kong, New Zealand and Singapore: France is 29th: Germany is 49th.
In terms of creditor protection: Germany is 28th: France is 79th.
No other EU country can match the UK on Rule of Law: the UK is 3rd in the world for property rights protection: 2nd in the world for Investment Freedom: 3rd in the world for Financial Freedom. As The Wall Street Journal’s Jon Sindreu has noted: “most international financial contracts are written in English law.”
The World Ranking of Judicial Independence cites: UK 6th - Rwanda is 23rd, Germany 24th, France 28th, Saudi Arabia 30th, India 53rd, Spain 58th and Italy 65th.
The EU is like Volkswagen writ large: when they can’t hack it – they crook.
Frankfurt may attract a few McMafia Russian banks, a BCCI or a handful of Ponzi scammers, but chances now that any reputable international financial institution would want to be mired in the filth of institutional German economic corruption are slimmer than ever.