This Thursday will be remembered as a Raven-black in the history of the German economy. On the morning of the payment service provider Wirecard had to first apply to be a member of the elite benchmark index, the Dax corporations insolvency. Up to the turn-in of major shareholder Heinz Hermann Thiele on the eve of such a fate was for the tradition of Lufthansa in the room. You may imagine the signal effect of such a double-broke even. However, the balance sheet, the scandal of the former stock market stars from the Munich suburb of Aschheim is on Germany as a location for a corridor of damage, its extent is not known at this point in time completely.
Wirecard – that was, until recently, a promise to the future; the fact that innovative digital companies can not thrive only in California and in China's East coast, but also in the foothills of the Alps. Now the former CEO is only against Deposit still at large, another key figure in the mystery of the missing 1.9 billion euros in the balance sheet under dipped, the stock market value is largely destroyed. The Director of the insolvency administrator performs in the future.WIRECARD -- -- (--) Xetra tradegate lang & Schwarz, Stuttgart, London SE Int. Level 1FrankfurtSchweiz OTCWienSchweiz 1T 1W 3M 1J 3J 5J For detail view
Actually, the sentence does not apply, that the insolvency does not automatically mean the end. In the case of Wirecard this is not true, however. As with the material damage, which is likely to occupy the courts for a long time, were also a dramatic loss of confidence goes hand in hand. The Name, Wirecard is in the future as a Synonym for Lies and deception, for opaque business practices and a failure of all testing and Supervisory instances.
The customer to contact long other providers; not to mention the possible consequences for the German equity culture: If countless small investors now suffer the shipwreck, in danger of a new Telecom Moment. The Wirecard debacle knows almost only losers. As the successor to the Dax, Delivery Hero is now in the conversation. What is the sobering symbolism! Of all things, an Internet-based food supplier for Germany's future.Updated Date: 25 June 2020, 16:20