Taxes Blown in the Wind? The Siemens Gamesa Bailout

• Autores: Horst Eidenmüller, Javier Paz Valbuena
• Localización: ZIP : Zeitschrift für Wirtschaftsrecht, ISSN 0723-9416, Vol. 44, Nº. 50, 2023, págs. 2601-2608
• Idioma: alemán
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• Resumen

  • The German government leads the bailout of the distressed wind power company Siemens Gamesa with a guarantee of € 7.5 billion. Based on prior conceptual work on the limits of bankruptcy law and bailouts of critical firms, we question the rationale for the bailout. Siemens Gamesa is not a critical firm. Neither efficiency nor geostrategic considerations justify the bailout. We also question its terms and conditions. The main shareholder of Siemens Gamesa is Siemens AG (through Siemens Energy AG), a highly profitable company. Siemens contributes little (if at all) to the bailout. This is not fair to the German taxpayer.