When proposals emerged for \u20ac50bn of Greek assets to be placed in a Luxembourg fund, it was pointed out\u00a0<\/a>that the fund was a subsidiary of a bank in which Mr Schaeuble himself was a board member.<\/p>\n Mr Schaeuble became finance minister in 2009, in the midst of the global financial crisis, having served previously as German interior minister and CDU leader.<\/p>\n In his key role at the heart of the eurozone – with Germany the biggest contributor to EU bailouts – he has performed a double act with Ms Merkel, enforcing budget discipline.<\/p>\n They argue that relaxing the rules only encourages “moral hazard” – the reckless borrowing of the pre-crisis bubble years.<\/p>\n Yet back in 2003 France and Germany broke EU budget deficit rules. And critics say it is unfair for Germany to claim the moral high ground since it benefited from massive debt relief after World War Two.<\/p>\n Mr Schaeuble’s role as “Europe’s enforcer” is driven partly by the need to keep skeptical CDU and Bavarian CSU politicians on board. \u00a0There is much German opposition to the eurozone bailout. \u00a0Mr Schaeuble was formerly a rival of Ms Merkel. She replaced him as CDU leader in 2000 when his reputation took a battering in a CDU party funding scandal under ex-Chancellor Helmut Kohl.<\/p>\n He admitted that he had met the arms dealer and lobbyist at the centre of the scandal, Karlheinz Schreiber, and accepted an undeclared DM100,000 (\u00a336,300) cash donation from him.<\/p>\n However, he denied doctoring CDU records or any other wrongdoing.<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" In Athens Wolfgang Schaeuble has been labelled a “bloodsucker” and a “Wanted” poster has appeared showing him with a Hitler mustache. He may go down in history as the man with a Grexit plan. He was behind a proposal to … Continue reading ![\"Greek](\"http:\/\/www.w-t-w.org\/en\/wp-content\/uploads\/2015\/07\/Greek-Poster.jpg\")
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