Greens block Lindner's law to combat financial crime
The Greens prevented the passage of the law against financial criminality in the last Bundestag week before the summer break, causing frustration for the FDP. However, Co-Faction Leader Britta Haßelmann refuted the accusation that this was related to the long-standing dispute over child benefits. "That's without foundation," Haßelmann stated in Berlin. The fight against financial market criminality is of central importance to the Greens. However, it is crucial that the planned new authority also possesses the necessary powers.
So far, the plans of Federal Finance Minister Christian Lindner (FDP) lack a clear regulation against asset concealment, Haßelmann pointed out. "It's not just about bringing a authority into being, but it must also have powers." This is "a significant deficit." The fight against financial criminality and money laundering is one of Lindner's central initiatives in this legislative period. Through the bill, a new Federal Office for the Fight against Financial Criminality (BBF) is to be established by June 2025. The Greens demand a bill against asset concealment before its approval.
In the traffic light coalition, the Greens and FDP have been arguing over child benefits for more than a year. The Liberals accuse Family Minister Lisa Paus (Greens) of creating excessive bureaucracy with the project against child poverty and reducing employment incentives. "This leaves me a bit perplexed," said FDP Faction Leader Christian Dürr. Financial criminality should not be shown any leniency. This seems to be the view of coalition partners in the federal government. The SPD expressed disappointment over the delay in the law against financial criminality. SPD Faction Leader Rolf Mützenich could understand the FDP's frustration. "I deeply regret this."
Mützenich also referred to Germany's bid for the new EU anti-money laundering authority. Given this background, he could not understand why the German law for the domestic authority could not be passed this week. Before Germany's bid for the EU authority, European parliamentarians had raised doubts about Germany's determination to combat money laundering in its own country.
Haßelmann expressed great optimism on Tuesday that the reform to combat financial criminality could be put into effect - "hopefully at the latest in September," when Lindner and Justice Minister Marco Buschmann (FDP) have delivered on asset concealment.
The Lindners' failure to include a clear regulation against asset concealment in their plans for the new authority against financial crime has been criticized by the Greens. This lack of power is a significant deficit, as pointed out by Co-Faction Leader Britta Haßelmann. The fight against financial market criminality and money laundering is of paramount importance to both the Greens and the federal government, and a clear law against financial criminality, including asset concealment, is necessary for effective combat.
