Wednesday, December 28, 2016

At the age of 85 Hans Tietmeyer, the last Keeper of the D-Mark – FAZ – Frankfurter Allgemeine Zeitung died:

Who wants to write the economic, financial and monetary history of the Federal Republic of Germany, must mention the name of Hans Tietmeyer in a prominent place. Because Tietmeyer is not only over decades in politics, including as state Secretary in the Federal Ministry of Finance, and President of the German Bundesbank. Tietmeyer also in numerous books, essays and Speeches has accompanied the past decades, not infrequently, an admonition, but always with a pinch of Confidence. Concerned about the duration of the crisis in Europe, he had still held in October, in the business section of this newspaper with other prominent authors of a flaming plea for th e strengthening of the subsidiarity principle and the principle of self-responsibility in the EU.

Gerald Braunberger author: Gerald Braunberger, an editor in the business, responsible for the financial market.

For a man, the mind, the term “Westphalian oak” as a compliment, was it to criticize the policy again and again, a lot of things. But Tietmeyer was not a man who would have kept an economic or political decline for a not-correcting phenomenon. To doubt the possibility of a good future, would not have allowed him to be Catholicism.

would not have allowed A confession of human activity in and for the state could produce no positive effects, to him be downright Prussian understanding of duty. Hans Tietmeyer was a assertive and smart, self-confident and demanding, sometimes gnarled, and not always a simple man. His stature and his Reach, if he showed a space-by-step: Here’s a Lord.

Also with the change of power from Schmidt to Kohl h2>


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In Cologne, Tietmeyer was contributions his PhD. The connection between Catholic social teaching and ordoliberalem economy, the benchmark was thinking cord during his professional career, which began in 1962, with the entry in the Federal Ministry of economic Affairs will soon travel. There, the CDU-member, among other things, with questions of principle of economic policy was working, and later also with questions of European integration. At the beginning of the eighties, Tietmeyer played a behind-the-Scenes a significant role in the change of power from Helmut Schmidt to Helmut Kohl. He is regarded as the actual author of the so-called “tipping paper”, Otto Graf Lambsdorff, the coalition change of the FDP.

Then was Tietmeyer state Secretary at the Federal Ministry of Finance and, among other things, as a “Sherpa” with the preparation of world economic summits entrusted. In 1988, committed terrorists in Bonn, a plot that he survived. With the beginning of the year in 1990, Tietmeyer joined the Executive Board of the Bundesbank, where he was responsible for international monetary questions and for some months parallel to the Federal government, the German preparing for reunification helped. 1991 Tietmeyer was Vice-President and in the fall of 1993, the President of the Bundesbank.

At the end won the state

As President Tietmeyer had the heavy task to lead the Bundesbank in a currency Union, which you actually wanted to and the risks they persistently warned. The political head Tietmeyer, who was very dedicated to the stability and growth Pact, considered especially in the Absence of an accompanying Political Union as a serious omission. He was a follower of the “coronation theory” of monetary Union without Political Union could not work.

at the Time, hoped for a German opponent of the monetary Union in a public bust-up between the Federal government and the Bundesbank. The Bundesbank had no legal way to prevent the entry into the monetary Union, but a public rejection of the project by the Public’s highly respected Central Bank in Frankfurt would set the Federal government is undoubtedly under pressure.

At the end won the state, the Bundesbank issued the currency Union, their verbal approval. Many in the Bundesbank have forgiven Tietmeyer, whose relationship of trust with Helmut Kohl, was not a secret, never. As Bundesbank President Tietmeyer became a member of the Central Bank Council of the European Central Bank, where he ensured that the ratsteil borrowers in alphabetical order to the round meeting table. In August 1999, Tietmeyers term of office ended as Bundesbank President.

government service as an honor

perceived met a few years Ago at an event at Frankfurt’s Goethe-University, Tietmeyer and Otmar Issing each other, two brothers in the spirit of the monetary policy, if not brothers question in every monetary detail. Issing was during Tietmeyers presidential chief economist of the Bundesbank, and then in the same Position in the ECB. Tietmeyer again his Belief that the monetary Union does not only need a culture of Stability with sound public finances, but also a Political Union.

Then Issing raised the question of how should such a concrete idea – what Tietmeyer replied evasively, that he could not say exactly. On Tuesday, Hans Tietmeyer, the estimated economic liberalism and at the same time the state service as an honour, has died, at the age of 85 years.


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