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Friedrich Merz’s Failed Quest to Be a New Angela Merkel

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Friedrich Merz’s Failed Quest to Be a New Angela Merkel

Much of Merz’s public reputation, particularly on the broad liberal and left-wing space, stems from this time out of the political spotlight. In particular, his role as chairman of the German division of BlackRock, the American asset management behemoth, is seen with a critical eye by most Germans. His close personal ties to BlackRock CEO Larry Fink, as reported in a recent biography by Volker Resing, only add to the perception that Merz represents the financial elite more than the electorate.

Still, his advocates seek to reframe this association not as a liability but as a strength. His corporate entanglements are portrayed as proof of worldly competence, a business-minded sensibility absent from the typical career politician. “Through his many board positions,” write Jutta Falke-Ischinger and Daniel Goffart in their biography of Merz, “he gained a deep and novel insight into the economy.” Between 2007 and 2018, Merz served on at least nineteen corporate boards, from Commerzbank to BASF and the recycling giant Interseroh. Just as he was plotting his political comeback, his connections earned him millions and embedded him within Europe’s financial elite.

His proponents have tried to downplay the potential for conflicts of interest. Resing cites a corporate attorney familiar with Merz’s legal work who insists that “the substantive work was always done by others.” Merz, the implication goes, was more of a figurehead than an operative.

Europe @lemmy.ml

Friedrich Merz’s Failed Quest to Be a New Angela Merkel

16 comments
  • Between 2007 and 2018, Merz served on at least nineteen corporate boards, from Commerzbank to BASF and the recycling giant Interseroh. Just as he was plotting his political comeback, his connections earned him millions and embedded him within Europe’s financial elite.

    and in his entire "political career" did he ever had a leading government chair... PRIME chancellor material right there... The chair he sits on I mean.

16 comments