Ex-Finanz Minister Hans Eichel Praises Successor Lars Klingbeil’s Chances of Becoming Chancellor
In a recent interview with the German news magazine “Focus”, former German Finance Minister Hans Eichel, a member of the Social Democratic Party (SPD), expressed his confidence in his successor Lars Klingbeil’s ability to become the next Chancellor of Germany. Eichel believes that Klingbeil, also an SPD member, has the potential to succeed in the role, as long as he prioritizes good governance and leads the party in the right direction.
Eichel’s comments come as the SPD is reeling from its historically poor election results. In response, the former minister urged the party to re-evaluate its policies and present its goals more clearly and concretely. He emphasized the importance of social justice, environmental protection and international cooperation, which he believes the SPD should focus on in the future.
In the interview, Eichel also touched on his own experience as Finance Minister, during which he aimed to make Germany a nation of shareholders. However, he revealed that he does not own a single share of stock, citing the need for intense involvement in the financial market, which he did not have the time for during his tenure. Instead, he invested in savings accounts.
Eichel praised the progress made in the capital market since his time in office, citing the increased capital base of banks as a positive development. However, he expressed concern about the lack of regulation in the shadow banking sector, which he believes poses a risk to the stability of the financial system.
The former minister also warned about the dangers of the growing national debt in the United States and the spread of cryptocurrencies, particularly Bitcoin. He criticized the latter, saying it promotes a “casino mentality” without providing any real-world benefits and poses a threat to climate policy due to its high energy consumption. Furthermore, he believes it will create a new field for criminal activity.