In Germany, Crony Capitalism Is Kaput

The political financing scandal rocking Germany is another stage in the country's painful trek to a more modern, open society. The details of the affair are still murky, involving secret party bank accounts in Switzerland, possible payoffs by a major German weapons maker and by France's Elf-Aquitaine when it bought a derelict East German refinery, and a slush fund tended by the patriarch of German unity, Helmut Kohl.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.