Another bad blow to the image of German banks but also to Germany's public coffers. the weekly Die Zeit and the German state television ARD have unveiled what appears to be the biggest tax scandal in the Federal Republic of Germany.
The German banks, with illicit repayments and casual practices of banksters and stockbrokers, would have stolen from the tax authorities the beauty of 32 billion euros in 15 years. A zealous employee of the German Revenue Agency noticed it following the request for a stratospheric tax refund from an American fund.
Among the banks involved there are also very large ones. And there would also be banks bailed out with public money.
The curious thing is that no German authorities had noticed. Now German prosecutors are investigating a number of banks and individuals as well. But there is no doubt that the scandal strongly shakes German public opinion in the midst of the electoral campaign.
