There are two messages that come in in quick succession: First it says that the federal government is leaving Lufthansa completely.
Shortly thereafter, it was announced that he could become the majority shareholder at Uniper.
At first glance, the two have nothing to do with each other.
In the first case, the federal government got involved because society with the crane had got into trouble in the pandemic.
Now the market has recovered.
There's no reason to stay on board anymore.
In the second case, the federal government sees itself challenged because Uniper is a victim of the turbulence on the gas market.
The wholesaler is needed so that industrial customers, municipal utilities and homeowners are supplied with the material they urgently need.
Since the financial crisis, the state has been stuck in Commerzbank
The third case of emergency entry is older.
During the financial crisis, the federal government jumped to the side of Commerzbank with a silent participation and a shareholding in order to avoid its collapse and the threatening chain reactions.
Ultimately, taxpayers still hold 15.6 percent of the institute.
Why?
There really aren't any real reasons for it.
It is probably because selling the shares would result in a high loss.
Every politician dreads that.
The hint that you didn't get in to make money, but to prevent a meltdown in the financial market, would hardly help the government today.
Things went better at Lufthansa: it all ends well.
The group can operate freely again, the federal government has made a profit.
Nevertheless, entry into the state should remain the exception.
He should set the rules, not play along.
He has to be careful with his almost inexhaustible financial power, which threatens to overwhelm others.
There may be reasons to get more involved with Uniper now.
The exit should be considered.
The history of the current supply crisis teaches one thing: governments can also be wrong - and that becomes really expensive for everyone.