“MADE IN GERMANY” LIES IN THE GUTTER
Volkswagen has suffered a shocking loss of credibility after conspiring to violate US pollution laws and dupe customers on a systemic scale.
The scandal has once again exposed a culture of corrupt practices at the top of German export industry.
It is of an entirely different character from earlier breaches of US law by Hyundai and Ford, which stemmed mostly from errors. The US Justice Department is weighing serious criminal charges.
“It is profoundly serious. The accusation is that VW deliberately set out to mislead regulators with a cleverly hidden piece of software,” said Max Warburton from AllianceBernstein.
The financial daily Handelsblatt called the deception a “catastrophe for the whole of German industry.” It is and here’s why.




