German Election: Impact on Financial Industry
February 23 Election
Germany's parliamentary election on February 23 will shape the financial landscape of Europe's economic powerhouse. Key parties' finance policies, based on election platform documents, include:
CDU/CSU
* Aims for Germany to become Europe's financial hub
* Plans to develop European capital market union
* Supports venture capital and start-up growth via tax incentives
* Advocates for customs police to combat money laundering
* Prefers cash payment methods and only supports a digital euro with proven added value
AfD
* Calls for Germany to exit the eurozone and re-establish the Deutsche mark
* Proposes gold backing for the Deutsche mark and repatriation of gold reserves
* Favors deregulation of Bitcoin
* Opposes digital euro and demands legal tender status for cash
* Proposes abolishing inheritance and wealth taxes
SPD
* Proposes financial transaction tax
* Plans to tax the super-rich
* Supports reintroducing wealth tax and adjusting inheritance taxes for large estates
Greens
* Advocates limiting inheritance tax exemptions and imposing a global billionaire's tax
* Calls for a nationwide service center to address cryptocurrency misuse
* Promotes transparency register expansion for companies
* Seeks German leadership in sustainable finance regulation
* Supports BaFin protection against greenwashing
FDP
* Proposes lower taxes and reduced regulations
Key Points
* CDU/CSU aims for financial dominance but lacks specific plans.
* AfD's radical proposals include euro exit and Bitcoin deregulation.
* SPD plans to tax financial transactions and the wealthy.
* Greens prioritize sustainable finance and cryptocurrency regulation.
* FDP's business-friendly policies may not gain parliamentary representation.