Finance sector found to be strongest lobby group in parliament
Finance representatives make up the most powerful lobby in the German parliament, with banks, insurance companies and fund management firms spending millions to influence legislation, a new analysis published on Friday suggests.
No other industry among the 100 most financially powerful lobby groups is as strongly represented as the finance sector, according to an assessment by the Finanzwende (Finance Turnaround) association based on the public parliamentary lobby register.
Ten of the 100 financial heavyweights in the register are banks, insurance companies and investment firms who spend a total of almost €40 million ($41.1 million) annually on lobbying and employ 442 listed lobbyists, it said.
The automotive industry, meanwhile, which traditionally has a strong footing ...