Word: treuhandanstalt
(lookup in dictionary)
(lookup stats)
Dates: during 1990-1999
Sort By: most recent first
(reverse)
...substantial help from their rich western cousins, and virtually instant elevation to a comparable standard of living. They discovered that wealth is not synonymous with generosity. Among the first west Germans they met were property owners with eviction notices or investors with dismissal notices. A western-run agency, the Treuhandanstalt, was installed to salvage the state-owned assets of the east; to Ossis the Treuhand looks more like an undertaker appointed to dispose of the country's paltry remains. By the beginning of this year, easterners were pouring into the streets by the hundreds of thousands to demonstrate against...
EUROPE Germany's Treuhandanstalt, or trust institution, is orchestrating the most massive denationalization program, since it controls an estimated $300 billion of assets formerly owned by the German Democratic Republic. When the agency received its mandate to sell or close down the 8,000 state-owned companies that did business in the eastern part of the country, government officials thought the job would take at most five years. But the disintegration of East Germany revealed that its industry was a rolling wreck, running on dirty brown coal and potholed roads...
...among their own employees or the general population. Ideas have been floated to distribute shares in former state-owned companies to citizens in the form of mutual-fund certificates. At present, ownership of these companies is in limbo, or rather in the hands of a state trustee body, the Treuhandanstalt...
Real estate is not the only battleground. A law passed in March stipulates that former owners may reclaim businesses seized by the Communists; about 50,000 petitions are expected. State-owned enterprises have been placed under the control of a new government authority, the Treuhandanstalt, which will liquidate uneconomic plants and shift viable businesses toward private enterprise. So far, however, only a fraction of the 9,000 or so targeted firms have been privatized...
| 1 |