Wolfgang Schauble, Germany’s historic Minister of Finance and former president of the German Parliament Bundestag, died at the age of 81. The death, which the family reported to the German Dpa agency, occurred while he was at home on the evening of December 26. The centre-right politician, who belonged to the Christian Democratic Party (CDU), was known for his economic choices based on austerity policies, which deeply affected the course of the Eurozone. In 1990, a mentally unstable person attacked him and shot him three times, and Schauble has had to live in a wheelchair ever since.
Hero of German reunification
Born in Freiburg in 1942, Schauble became the longest-serving German parliamentarian in the Bundestag since 1972. One of the most important moments in his political life were the negotiations that led to German reunification in 1990. Schauble, then Minister of Internal Affairs in the government led by Helmut Kohl, was among those who managed the German unification agreement after the fall of the Berlin Wall. Over the years he also served as Minister of Internal Affairs, Minister of Private Affairs, Chairman of the CDU and Chairman of the CDU-CSU parliamentary group. In October 2009, Schauble became Minister of Finance with Chancellor Angela Merkel heading the government. Shortly after his appointment, revelations about Greece’s rising budget deficit led to an economic crisis that ravaged the continent and threatened to destabilize the world financial order. The German is seen as a central figure in efforts to lead Europe out of this crisis.
In the name of austerity
Always a supporter of greater European unity, the minister has insisted for years that the European Union be characterized by deeper integration and stricter rules. In the same years, Germany was criticized many times as a supporter of austerity measures aimed at reducing public debt through deep cuts. Hence the nickname “hawk” attributed to Schauble. After serving as Minister of Finance for eight years, he became president of the German parliament. The debate between Schauble and Mario Draghi at a Eurogroup meeting on Greece in July 2015 also remained famous. “Don’t make a fool of me,” the German politician said to the Italian economist; Even though he tried to lower his tone by denying that there had been a verbal confrontation with the Italian economist.
Source: Today IT
Karen Clayton is a seasoned journalist and author at The Nation Update, with a focus on world news and current events. She has a background in international relations, which gives her a deep understanding of the political, economic and social factors that shape the global landscape. She writes about a wide range of topics, including conflicts, political upheavals, and economic trends, as well as humanitarian crisis and human rights issues.
