Theo Waigel
Farmer’s boy and world politician – “Mr. Euro” turns 85
Theo Waigel looks back on an “unusually rich life”. photo
© Sven Hoppe/dpa
Hardly anyone is born with a career like Theo Waigel’s. Nevertheless, he has secured his place in the history books. Even in his old age, he upholds his principles.
Nevertheless, Waigel practices modesty and self-irony: Once, while on a bike ride, a “North German” asked him if he wasn’t Mr. Waigel. He said no, to which the man said: “That’s right, he’s already died.” Waigel said: “Yes, three years ago.” When asked about his first name, he likes to emphasize that he prefers Theodore to Theo. That means “a gift from God,” but not everyone in his party always viewed his work that way.
“It was an unusually rich life”
He doesn’t want to evaluate his “life’s work” himself, he told the German Press Agency a few days before his birthday. Later generations would have to judge this. But one thing is certain for him: “It was an unusually rich life.” For him, as a “farm boy” from the Swabian village of Oberrohr near Krumbach, it was never imaginable that he would personally get to know the three American presidents Ronald Reagan, George Bush and Bill Clinton or that he would be “almost friends” with the former Soviet President Mikhail Gorbachev.
Looking back, it was a great, stressful and exciting time in which he expected a lot from his family. “I’m glad that I can now give something back in my old age and of course I’m happy that at the age of 85 I can still stand up, my mind is still fresh, my memory is still alive and I can even work on special cases in my son’s law firm can.”
Waigel joined the CSU no less than 64 years ago, in 1960, and the Junge Union three years earlier. From 1982 to 1989 he was head of the regional group and from 1988 to 1999 he was head of the CSU. Waigel never actually wanted to become a federal politician; he would have preferred to become a district administrator in his hometown of Krumbach. But the district was quickly dissolved. New avenues opened up for this: in 1972 he entered the Bundestag, where he remained a member until 2002. Looking back, he is grateful for this, because he was undoubtedly able to take part in many historical events and decisions: from the legendary Kreuther separation decision of the CSU in 1976 to German reunification and the European Monetary Union.
Euro instead of ECU
And this is exactly where Waigel immortalized himself, because it was his idea that the European currency should not be called the ECU, but the Euro. As Federal Finance Minister in the government of Helmut Kohl (CDU), he suggested the name in 1995. With success. The European Council gave the green light and promptly gave the CSU politician a nickname that he is proud to hear to this day: “Mr. Euro”.
Even after leaving the Bundestag, Waigel remained close to the CSU. In 2009, the party made him honorary chairman, making him a lifelong member of the party executive committee. Waigel also shifted his involvement into the private sector – he worked in an advisory capacity with his son in a Munich law firm.
Waigel still likes to comment on current political issues, and he doesn’t shy away from making controversial statements: For example, he spoke out in favor of depriving particularly radical AfD leaders like Björn Höcke of their basic rights after an examination. With a view to the German budget situation, Waigel also advocates for longer working hours – even if this is a statement that is not well received by people.
Incidentally, Waigel sees the situation of his CSU in two parts: It is a “huge achievement” to keep the party with values ”around 40 percent” in these turbulent times, he says about the work of party leader Markus Söder. But the CSU also has to make more efforts because it “cannot just be a Bavarian party”. “It has to play a role at the German and European level. And that’s where foreign policy, defense policy, economic and financial policy need to be worked out a little more clearly than is the case at the moment.”