Merkel Oblivious to Wirecard Allegations Before China Visit

  • Chancellor lobbied for payments company on September 2019 trip
  • Reports alleging irregularities were already widely available
In less than two years, Wirecard went from entering the DAX to much fanfare to insolvency.
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German Chancellor Angela Merkel said she was unaware of any allegations of serious wrongdoing by Wirecard AG when she lobbied for the payments company in China.

As part of a broader discussion about Germany’s economic interests, Merkel broached Wirecard’s efforts to gain access to the Chinese market on the September 2019 visit at a time when media reports about alleged irregularities were already circulating widely.