Raids on Germany's Business Elite - Management under Fire - People and Politics 25.02.2008

The recent arrest of Deutsche Post CEO Klaus Zumwinkel on allegations of tax evasion took many Germans by surprise. But very soon it became clear that it wasn't just a case of one bad apple. Officials are now investigating hundreds of leading German business figures. The investigation started after authorities paid an informant in Liechtenstein for a CD-ROM containing bank details of German clients. The scandal has rocked the country. Prior to this affair, there had already been complaints that salaries for top executives were rising out of control, while average earners saw their income fall. Some business leaders say they are not surprised by these developments. A number of leading politicians are now calling for the perpetrators to experience the full force of the law. German Chancellor Angela Merkel has appealed to the economic elite to play fair, and expressed concern about the potential damage to Germany's international business image.