Leading German CEOs appeal to the German Parliament that the United Nations Convention Against Corruption (UNCAC) should get brought into effect as soon as possible. Germany is one of the few countries not having ratified the agreement. Two other are Syria and Saudi-Arabia.
In an analysis, Citi concludes that the current legal framework for the ESM does not offer special protection for taxpayers as suggested to the German parliament ahead of last week's vote. The subordination clause would trigger the CDS, why such a protection is legally not possible without blowing up the system. German politics finds itself under scrutiny over not telling parliament the truth.