Chapter 144 The Economic Conference of the European Community
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"As for the opening of the Federal Republic of Germany's market, I would like to elaborate a few points. In recent years, the international economic situation has been deteriorating. In order to safeguard our European market and interests, we have established the European Community, hoping to use a unified market to I think everyone here should be very clear about which country has the biggest vested interest among us. Besides the Federal Republic of Germany, there is another country with such good means. While persuading us to open up our own domestic The other side of the market is using all means to protect its own domestic enterprises. The products of the Federal Republic of Germany sell well in Europe and have crushed our own industry. But when we wanted a fair trading opportunity, the Germans refused. , They told us that this is not in line with their domestic laws..." The British representative delivered a sharp speech at the European Community Economic Conference, and every sentence in his words alluded to the "Volkswagen Company Protection Act" of the Federal Republic of Germany.
Other countries participating in the meeting also expressed their opinions, expressing their doubts and opposition to the "Volkswagen Company Protection Act" of the Federal Republic of Germany. Over the years, the strong German manufacturing industry has been squeezing the market for products from other countries, which has made other countries in Western Europe dissatisfied with this. So at today's European Community Economic Conference, everyone began to mock the Federal Republic of Germany. This meeting has become a meeting of criticism of the Federal Republic of Germany by other countries.
There has never been a good thing in this world that you only take advantage of it without suffering a loss. If you want other countries to open their markets, you have to trade them on attractive terms. Strong German manufacturing must have its own market, and Europe is the ready market. But if Germans eat meat and don't even give soup to other members of the European Community, then this unified market will fall apart due to the collapse of credit.
"The issue of the "Volkswagen Company Protection Act" is the internal affairs of our Federal Republic of Germany. I don't think it should be discussed on this international occasion. Besides, we believe that our trade with each other is fair. The most favorable tariff, I don't think there is anything unfair about it," retorted the representative of the Federal Republic of Germany.
"Yes, manufacturing is your strong point, but financial services are our strong point. The so-called fairness is not just about making use of your strengths while suppressing ours!" the British representative retorted. Representatives of other countries also responded, expressing their dissatisfaction with Germany's way of saying one thing and doing another.
The German representative was dissatisfied with the attitude of other countries present, so he quickly left the venue early. Came to the office of the Federal Republic of Germany delegation outside the venue. Then he contacted Prime Minister Cole's secretary by phone and reported the incident.
"You say that our "Volkswagen Company Protection Act" has been jointly opposed by other countries in the European Community?" Prime Minister Kohl asked.
"Not only the "Volkswagen Company Protection Act", but also the recent Porsche incident. These British bankers were very dissatisfied with the joint run on foreign investors by our domestic companies. They brought this matter to the British Chancellor of the Exchequer. And Columbia Bank, the largest investor in Porsche, is a Wall Street upstart registered in the United States.
I think the US sanctions against us are mostly related to the Porsche incident..." A representative of the Federal Republic of Germany reported to the Chancellor.
"Do you think it is possible for us to reconcile with these countries? The "Volkswagen Company Protection Act" is not so easy to abolish. You should know how much influence Volkswagen has in China. The shareholders of the board of directors can pick any one at random. The leading figures in the German auto industry, they have a good idea. They want to earn a lot of foreign exchange, but they don’t want foreign investors to participate. There is no such good thing in the world. Forget it, I don’t care about the public, only they Only when we know the pain will we respect the interests of our counterparts in other European countries. But we also have to say at this European Community meeting, tell them that I will solve the Porsche problem as soon as possible!" Prime Minister Cole urged on the phone , As a politician, Chancellor Kohl understands very well that only by selling part of the interests can the whole of Europe be united, and a unified European market will be the new basis for the economic development of the Federal Republic of Germany. Germany is not a normal country yet, and half of the territory is still in the hands of the Soviet Union. If it cannot become the leading country with the most say among European countries, the Federal Republic of Germany will not be able to regain its territory with the help of other European countries and complete the two German unity. Looking at the entire European continent, the only countries that can compete economically with Germany are the United Kingdom, France, and Italy. The UK's domestic economy is currently in trouble, as are France and Italy. If Germany can use its own strength to help these countries get out of the current predicament, it will greatly strengthen the Federal Republic of Germany's say in European affairs. Even in the face of a powerful United States in the future, a united Europe can reject the unreasonable demands of the United States. Therefore, European integration is really important to the Federal Republic of Germany, and compared with it, the "Volkswagen Company Protection Act" is nothing.
Cole has now seen through the mystery of the recent trade disputes, and he no longer intends to stand on the side of domestic conservative forces in his heart. However, in view of the strong influence of domestic conservatism, Cole does not intend to take the initiative to promote this matter, but let the government choose to stay out of these trade conflicts. He believes that the market will bow the heads of these self-righteous German entrepreneurs.
A few days later, the EC economic meeting finally came to an end. This meeting almost turned into a collective denunciation of the conservative criticism of the German market by member states. Under heavy pressure, the representatives of the Federal Republic of Germany promised not to adopt a restrictive policy on foreign investors in the acquisition of Porsche, and the "Volkswagen Corporation" However, the German side did not give a satisfactory answer to the question of the Protection Act. In the final analysis, Porsche is a luxury sports car brand, and the influence of Volkswagen's national car is completely different.
But things finally turned around. The German court quickly ruled that Piech and his allies interfered with the acquisition of Porsche in violation of the law. Wolfgang could finally breathe a sigh of relief. With the full support of Karim, Wolfgang quickly submitted a new proposal to the board of directors with the advantage of voting rights, that is, to issue new shares to introduce foreign strategic investors, further diluting the stocks held by Piëch and voting rights. Because Piëch lost his controlling stake, he was unable to oppose Wolfgang's proposal. He could only watch the British consortium enter Porsche's board of directors and become the new major shareholder.