Sunday, December 11, 2016

Exhaust-affair in the United States: Trump the VW Deal? – Daily mirror

Actually, Volkswagen had ticked off at least this part of the exhaust gas affair. With the US authorities, the car maker had agreed on a penalty in the amount of 14 billion euros. The still pending approval of the U.S. Department of justice seemed to be only a formality. But that was before the election of Donald Trump. As the “Bild am Sonntag” reported, has not succeeded in VW now, to agree with representatives of the Ministry of justice – with the result that the final decision on the criminal falls to the amount in the term of office of Trump, in January of Barack Obama as U.S. President.

For the embattled car maker are the bad news. “We have to expect the Worst,” he quoted the newspaper a is not referred to a VW Manager. Accordingly, the group’s fear that Trump could make the agreed-upon Deal, and a significantly higher penalty payment request. VW itself is not expressed.

Trump had repeatedly announced, to put on a stronger protectionism: that is, he wants to strengthen the U.S. economy and protect – in case of doubt, to the detriment of foreign companies. VW boss Matthias Müller is aware of. Already on the choice of Trumps, he responded, worried and said: “I hope that the outcome of the election, the impact is still adverse to the VW group.”

Deutsche Bank is waiting for news from the USA

Volkswagen is not the only German company that is shaking due to the uncertainty in the United States. Also, Deutsche Bank negotiated with the US authorities on a billion-dollar penalty. It is dubious mortgage transactions in the period before the outbreak of the financial crisis, which is why the Ministry of justice had initially requested $ 14 billion. Actually, the German Bank had wanted to finish the negotiations for a long time. In the meantime, it’s not seem, however, that the will before he left office in January.

This is unlike in the case of VW not to say, however, is difficult, whether it is good or bad for the group. On the one hand, the Deutsche Bank is one of the foreign institutions to which it might make Trump in the future harder, in order to strengthen the US banks. On the other hand, the future U.S. President, however, also has personal business relationships with the Deutsche Bank, according to media reports, the Institute Trump has borrowed since 1998, about $ 2.5 billion – currently, the loans should amount to on $ 350 million. the rtr


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