Überblick

Open Access

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Peer Reviewed

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Abstract

• The financial crisis revealed weaknesses in the policy making and supervisory capacities of the German Ministry of Finance (BMF). Due to a lack of adequate personnel and the challenges of unexpected tasks, the ministry had to outsource certain functions in policy formulation. However, it did not only mandate the German Supervisory Authority (BaFin), but also law firms like Freshfields. As a matter of fact, the crisis showed only the tip of the iceberg, because the BMF is not even able to cope with its responsibilities in daily business. Institutional reforms, which were discussed in German politics, did not deal with this problem, but settled for symbolic actions.

authors

• Stefan Handke

Veröffentlichungszeitpunkt

• Januar 1, 2011

veröffentlicht in

• Politische Vierteljahresschrift, Vol.52(4), pp. 663-687  Zeitschrift