Even if America's Treasury Secretary Janet Yellen pours water into the wine from Veneto, the result for Olaf Scholz remains gratifying.

The German is well received for his plan to reorganize the global tax system.

Up until now, a state's right to tax has been dependent on the question of whether a group has a subsidiary or a permanent establishment within its borders.

Only then does money flow.

When Google presents advertisements to searchers on the Internet, the local tax authorities go away empty-handed, because the company is controlled from America and the algorithm that provides search results and profits was developed there.

Many countries no longer want to accept this and have introduced special digital taxes.

But that is against the rules and has what it takes to bring trade disputes to the world.

An important success for Scholz

In this way, the tax world is to be re-founded.

The so-called market states are to receive certain taxation rights for the “winners of globalization”.

And there should be a minimum taxation, with a rate of 15 percent being targeted.

No country would be forced to raise that much.

But if one company pays less somewhere, then others can collect the difference.

For the social democrat Scholz, not only a minister but also a candidate for chancellor of his party, this is an important success, as his campaign is not moving.

The truth is that this success also has many fathers.

This includes the anti-multilateralist Donald Trump, who single-handedly introduced a minimum tax in America.

The German Ministry of Finance developed the elements of the new regulation that has now been agreed at an early stage.

Scholz raised this project to the international level and promoted it.

But without the change of power in America it would have remained a game of thought.

With him new momentum came into the matter.

It remains to be seen whether the remaining work will be completed as quickly as Scholz hopes.

Whether the project will help him in the election campaign is another question.

At least he was allowed to celebrate a small success in Venice.