View source for Theo Waigel

{{Short description|German politician (born 1939)}}
{{Use dmy dates|date=March 2021}}
{{Infobox Minister
| image               = Theo Waigel, 2019.jpg
| caption             = Waigel in 2019
| name                = Theo Waigel
| office1             = [[Federal Ministry of Finance (Germany)|Federal Minister of Finance]]
| term_start1         = 21 April 1989
| term_end1           = 27 October 1998
| chancellor1         = [[Helmut Kohl]]
| predecessor1        = [[Gerhard Stoltenberg]]
| successor1          = [[Oskar Lafontaine]]
| office              = [[Leader of the Christian Social Union in Bavaria|Leader of the Christian Social Union]]
| term_start          = 16 November 1988
| term_end            = 16 January 1999
| predecessor         = [[Franz Josef Strauß]]
| successor           = [[Edmund Stoiber]]
| office2             = Bundestag First Deputy Leader of the [[CDU/CSU|CDU/CSU Group]]
| term_start2         = 4 November 1982
| term_end2           = 16 November 1988
| leader2             = [[Alfred Dregger]] <br /> [[Wolfgang Schäuble]]
| predecessor2        = [[Friedrich Zimmermann]]
| successor2          = [[Wolfgang Bötsch]]
| office3             = Member of the [[Bundestag]] <br /> for [[Neu-Ulm (electoral district)|Neu-Ulm]]
| term_start3         = 3 October 1976
| term_end3           = 17 October 2002
| predecessor3        = Leo Wagner
| successor3          = [[Georg Nüßlein]]
| birth_name          = Theodor Waigel
| birth_date          = {{Birth date and age|1939|04|22|df=y}}
| birth_place         = [[Ursberg]], [[Bavaria]], [[Deutsches Reich]]
| death_date          = 
| death_place         = 
| party               = [[Christian Social Union in Bavaria|Christian Social Union]] (CSU)
| alma_mater          = [[University of Würzburg]]
| profession          = [[Lawyer]]
| religion            = 
| signature           = 
| website             = 
| footnotes           = 
}}

'''Theodor Waigel''' (born 22 April 1939) is a German politician of the [[Christian Social Union in Bavaria]] (CSU). He represented [[Neu-Ulm (electoral district)|Neu-Ulm]] in the [[Bundestag]] from 1976 to 2002.

Waigel is a lawyer, and earned a doctorate in 1967. He was a [[Member of the German Bundestag|member of the Bundestag]] from 1972 to 2002. He served as [[Federal Ministry of Finance (Germany)|Federal Minister of Finance]] of Germany in the Cabinet of Chancellor [[Helmut Kohl]] from 1989 to 1998, and as Chairman of the Christian Social Union in Bavaria from 1988<ref name=tou14apr>{{cite news|last=Tuohy|first=William|title=Kohl Shuffles Cabinet to Aid Image Before Election|url=https://www.latimes.com/archives/la-xpm-1989-04-14-mn-1690-story.html|access-date=10 April 2013|newspaper=Los Angeles Times|date=14 April 1989|location=Bonn}}</ref> to 1999. He is known as the father of the [[Euro]], the European currency.<ref>Stone, Randall W. and Gent, Stephen E. (1 February 2006) [https://web.archive.org/web/20110809024232/http://users.polisci.wisc.edu/pec/papers/Stone_Gent_06.pdf Formalizing Informal Cooperation: Norm-Based Cooperation and the European Stability and Growth Pact]</ref> He played a vital role in its introduction as German Minister of Finance. He also managed to impose an [[austerity]] program on West Germans and overcome the massive deficits of German unification to meet the strict fiscal benchmarks mandated by Europe's single currency.<ref>John Schmid (27 May 1998), [https://www.nytimes.com/1998/05/27/news/27iht-germ.t_0.html German Opposition Advertises a Cabinet] ''[[International Herald Tribune]]''.</ref> In 2009, he was appointed Honorary Chairman of the CSU.

==Early life==
Waigel was born as the son of a small-time farmer from the Swabian village of [[Oberrohr]]. When he was 6, his older brother, August, was killed in France during World War 2.<ref>Nathaniel C. Nash (29 November 1995), [https://www.nytimes.com/1995/11/29/business/international-business-club-europe-s-tough-doorman.html Club Europe's Tough Doorman] ''[[New York Times]]''.</ref>

==Member of the Bundestag, 1972–2002==
Waigel first became a [[Member of the German Bundestag]] for [[Neu-Ulm (electoral district)|Neu-Ulm]] in the [[1972 West German federal election|1972 federal elections]]. From 1980 to 1982, he served as spokesperson of the CDU/CSU parliamentary group on economic affairs. He was the group's deputy chairman from 1982 until 1989. In this capacity, he also served as the leader of the Bundestag group of CSU parliamentarians.

==Federal Minister of Finance, 1989–1998==
In a 1989 cabinet reshuffle, [[Chancellor of Germany|Chancellor]] [[Helmut Kohl]] named Waigel as new Federal Minister of Finance, replacing [[Gerhard Stoltenberg]]. During his time in office, his state secretaries included leading economists [[Horst Köhler]] (1990–1993) and [[Jürgen Stark]] (1995–1998), among others.

===German reunification===
During his time in office, Waigel oversaw the early economic integration of East Germany after the fall of Communism. He not only had to impose enormous new taxes on the German public, but he also had to keep the country's budget deficit from ballooning while Germany was spending $150 billion a year to rebuild the east.<ref>Nathaniel C. Nash (29 November 1995), [https://www.nytimes.com/1995/11/29/business/international-business-club-europe-s-tough-doorman.html Club Europe's Tough Doorman] ''[[New York Times]]''.</ref>

In March 1990, Waigel publicly announced that the government was considering a proposal by its central bank, the [[Bundesbank]], for conversion at a rate of one Deutsche mark to every two [[East German mark|East mark]]s, with an exception for a small portion of personal savings. In response, hundreds of thousands of East Germans protested against the plan, including about 10,000 in East Berlin, who took to the [[Palace of the Republic, Berlin|Palace of the Republic]], where the newly elected Parliament was holding its inaugural meeting.<ref>Ferdinand Protzman (6 April 1990), [https://www.nytimes.com/1990/04/06/business/bonn-works-on-money-plan-amid-protests-in-east.html Bonn Works on Money Plan Amid Protests in East] ''[[New York Times]]''.</ref> Chancellor Helmut Kohl said that was not the policy after all.<ref>[[David Rosenbaum (journalist)|David Rosenbaum]] (5 April 1990), [https://www.nytimes.com/1990/04/05/business/group-of-7-meeting-is-expected-to-be-quiet.html Group of 7 Meeting Is Expected to Be Quiet] ''[[New York Times]]''.</ref>

On 19 May 1990, Waigel and his East German counterpart [[Walter Romberg]] signed a state treaty to merge their economies and make the [[West German mark]] the sole legal currency in both nations by 2 July 1990.<ref name="ProtzmanTimes">{{cite news|last1=Protzman|first1=Ferdinand|title=Evolution in Europe; Germanys Sign Pact Binding Economies|work=The New York Times|date=19 May 1990|url=https://www.nytimes.com/1990/05/19/world/evolution-in-europe-germanys-sign-pact-binding-economies.html}}</ref>

In July 1990, Waigel joined Kohl and Foreign Minister [[Hans-Dietrich Genscher]] on a trip to Moscow to meet President [[Mikhail S. Gorbachev]], where they worked to convince the Soviet leader to drop his remaining objections to German unification within [[NATO]].<ref>[[Craig R. Whitney]] (14 July 1990), [https://www.nytimes.com/1990/07/14/world/evolution-in-europe-kohl-will-meet-gorbachev-today-in-moscow-on-unity.html Evolution in Europe; Kohl Will Meet Gorbachev Today in Moscow on Unity] ''[[New York Times]]''.</ref>

On 9 August 1990, Waigel announced that West Germany's 1990 budget would be its last and that he was withdrawing the Cabinet draft for the 1991 budget to make way for an [[Federal budget of Germany|all-German budget]] consonant with unification.<ref>David Binder (10 August 1990), [https://www.nytimes.com/1990/08/10/world/german-leaders-agree-on-elections-on-dec-2.html German Leaders Agree On Elections on Dec. 2] ''[[New York Times]]''.</ref> Later that year, he said that borrowing by government, state and local authorities would total up to $95 billion the following year, nearly five times the equivalent figure for West Germany in 1989.<ref>Ferdinand Protzman (16 November 1990), [https://www.nytimes.com/1990/11/16/world/evolution-in-europe-kohl-pledges-help-in-soviet-food-crisis.html Evolution in Europe: Kohl Pledges Help in Soviet Food Crisis] ''[[New York Times]]''.</ref> Between 1989 and 1991 alone, the central government's budget deficit soared from 0.5 percent of national income to 5 percent.<ref>[http://www.politico.eu/article/germanys-great-survivor-2/ Germany’s great survivor] ''[[European Voice]]'', 25 October 1995.</ref>

Following a proposal developed by Waigel, the Kohl government agreed in February 1991 to an unexpectedly large package of tax increases – including a 7.5 percent surcharge on personal income and [[corporate tax]] payments – to help pay for reunification, as well as the government's contribution to the allied forces during the [[Gulf War]] and aid to Eastern Europe's fledgling democracies.<ref>Ferdinand Protzman (27 February 1991), [https://www.nytimes.com/1991/02/27/business/bonn-sets-big-tax-rise-for-unity-and-gulf-aid.html Bonn Sets Big Tax Rise For Unity and Gulf Aid] ''[[New York Times]]''.</ref> In March 1992, Germany paid its final installment of $1.68 billion in Gulf War aid to the [[United States]], fulfilling its overall pledge of $5.5 billion.<ref>[https://www.latimes.com/archives/la-xpm-1991-03-29-mn-963-story.html Bonn Makes Its Final Gulf War Payment] ''[[Los Angeles Times]]'', 29 March 1991.</ref>

In the national debate on whether the federal government should remain in [[Bonn]] or move to Berlin, Waigel argued that Germany had assumed enough major financial obligations over the preceding years and could not afford to build a new capital.<ref>[[Stephen Kinzer]] (17 June 1991), [https://www.nytimes.com/1991/06/17/world/berlin-and-bonn-partisans-square-off-as-vote-for-germany-s-capital-nears.html Berlin and Bonn Partisans Square Off as Vote for Germany's Capital Nears] ''[[New York Times]]''.</ref>

In early 1996, Waigel and his French counterpart [[Jean Arthuis]] launched a French-German economic stimulus package aimed at encouraging spending, increasing growth, cutting taxes on business and reducing unemployment.<ref>Alan Friedman (24 January 1996), [https://www.nytimes.com/1996/01/24/news/24iht-fecon.t_5.html France to Miss '95 Deficit Target 'by Just a Little Bit'] ''[[International Herald Tribune]]''.</ref> In the subsequent years, however, both CDU and CSU favored increasing taxes, fearing the consequences of further budgetary cuts; by 1997, the government was already in danger of breaking a Constitutional Court ruling that spending on public investment must exceed the budget deficit. At the time, Germany had a record 2.2 trillion marks in public debt, much of it amassed during Waigel's tenure because of the costs of reunification.<ref>Matt Marshall Staff (26 May 1997), [https://www.wsj.com/articles/SB864581478643282000 Germany's Waigel Reverses Course on Gold Revaluation] ''[[Wall Street Journal]]''.</ref> 

During the period of Reunification in the 1990s, Waigel, as Minister of Finance, refused to return eight buildings in East Germany belonging to six Austrian Jewish citizens.<ref>"Allgemeine Jüdische Wochenzeitung, 10 September 1992; "Expropriation through the Back door" (Enteignung durch die Hintertür)</ref>

===International economic policies===
[[File:Bundesarchiv B 145 Bild-F083103-0034, München, CSU-Parteitag.jpg|thumb|upright=1.25|Waigel (right) with [[Erwin Huber]] in 1989]]
Soon after taking office, Waigel negotiated with his counterparts of the [[Group of Seven (G7)|G7]] on the difficult question of rankings in the voting hierarchy of the [[International Monetary Fund]] (IMF). Under the agreement, Japan and West Germany shared the No. 2 ranking at the agency, ahead of France and the United Kingdom.<ref>Clyde Henri Farnsworth (7 May 1990), [https://www.nytimes.com/1990/05/07/business/imf-pact-on-fund-rise-and-voting.html I.M.F. Pact On Fund Rise And Voting] ''[[New York Times]]''.</ref> By 1991, Waigel was the driving force within the G7 to agree in principle that the Soviet Union should be offered a role in the IMF.<ref>Steven Prokesch (24 June 1991), [https://www.nytimes.com/1991/06/24/world/rich-nations-back-junior-soviet-role-in-monetary-fund.html Rich Nations Back Junior Soviet Role in Monetary Fund] ''[[New York Times]]''.</ref>

In 1991, Waigel became the first chairman of the board of the newly established [[European Bank for Reconstruction and Development]] (EBRD).<ref>Richard W. Stevenson, (21 April 1993), [https://www.nytimes.com/1993/04/21/business/bank-for-east-europe-lives-well-in-london.html Bank for East Europe Lives Well in London] ''[[New York Times]]''.</ref>

===Energy and climate policy===
On initiative of Waigel, the Bundestag establied the German Federal Environmental Foundation (DBU) in 1990, using the amount of €1.3 billion from privatizing the former steel group [[Salzgitter AG]].<ref>[https://www.dbu.de/2535.html About] Deutsche Bundesstiftung Umwelt (DBU).</ref>

After Germany and France failed to get the [[18th G7 summit]] to agree on ways to assure the safety of deteriorating nuclear power plants in Eastern Europe and the former Soviet Union, Waigel pledged that public funds from the West would nonetheless be mobilized not simply to repair dangerous plants but "to change the whole energy policy in these states so they can conserve energy, develop alternative energy sources and thereby create more leeway for shutting down plants that are unsafe."<ref>[[Stephen Kinzer]] (8 July 1992), [https://www.nytimes.com/1992/07/08/world/summit-in-munich-7-leaders-divided-on-a-plant-safety.html Summit In Munich; 7 Leaders Divided On A-Plant Safety] ''[[New York Times]]''.</ref>

===Introduction of the Euro===
Under the leadership of Kohl and Waigel, the adoption of a common currency became central to Germany's goals of political and economic integration in Europe.<ref>[[Alan Cowell]] (22 September 1995), [https://www.nytimes.com/1995/09/22/world/europe-s-dream-of-common-currency-a-german-warning-shot.html Europe's Dream of Common Currency: A German Warning Shot] ''[[New York Times]]''.</ref>

At the height of speculative attacks on the [[European Exchange Rate Mechanism]] (ERM) in 1992–93, acting closely with his then counterpart [[Michel Sapin]] of France, Waigel repulsed speculators trying to break the [[French franc]]'s parity with the [[Deutsche Mark]] by selling marks en masse until the bank traders gave up.<ref>Daniel Flynn (14 May 2012), [https://www.reuters.com/article/us-france-sapin-idUSBRE84D13G20120514 "Head chopper" tipped for French finance minister] ''[[Reuters]]''.</ref><ref>Robert Chote Andrew Marshall and Peter Torday (23 September 1992), [https://www.independent.co.uk/news/last-ditch-defence-of-erm-france-pours-out-foreign-currency-reserves-to-defend-the-sliding-franc-1553023.html Last-ditch defence of ERM: France pours out foreign currency reserves to defend the sliding franc] ''[[The Independent]]''.</ref>

Throughout the 1990s, Waigel was seeking to assure a skeptical German public as well as small companies and banks that the new currency would be as stable as the Deutsche Mark, which had become a symbol of Germany's economic hegemony in Europe at the time.<ref>Tom Buerkle (19 September 1995), [https://www.nytimes.com/1995/09/19/news/19iht-emu_1.html Paris-Bonn Currency Dispute Deepens] ''[[International Herald Tribune]]''.</ref> In September 1995, Waigel first proposed that countries adopting a single currency agree to reinforce rules on budget deficits and impose financial sanctions against deficit violators that go beyond the penalties included in the [[Maastricht Treaty]].<ref>Tom Buerkle (19 September 1995), [https://www.nytimes.com/1995/09/19/news/19iht-emu_1.html Paris-Bonn Currency Dispute Deepens] ''[[International Herald Tribune]]''.</ref> Also in September 1995, Waigel first floated Euro as the name of the new single currency. He later overruled the French government with his proposal; France had favored want the name ECU, the [[European Currency Unit]] which was used in many accounts and the issuance of some debt at the time.<ref>Nathaniel C. Nash (28 November 1995), [https://www.nytimes.com/1995/11/28/business/with-a-european-currency-the-currency-is-conflict.html With a European Currency, The Currency Is Conflict] ''[[New York Times]]''.</ref> The name "Euro" was later chosen for the new currency at the European Council in Madrid.

In a move to reduce government spending, Waigel led the call for a reduction in Germany's contributions to the [[budget of the European Union]] in 1996. He wrote to Kohl pointing out that contributions from Germany made up about 60 percent of the [[Regional policy of the European Union|EU's regional and structural funds]] and urging him to push for a cut in Germany's burden.<ref>Thomas Klau (6 November 1996), [http://www.politico.eu/article/clamour-to-cut-germanys-eu-burden/Clamour to cut Germany’s EU burden] ''[[European Voice]]''.</ref> In 1998, he joined fellow finance ministers [[Gerrit Zalm]] of the [[Netherlands]], [[Rudolf Edlinger]] of [[Austria]] and [[Erik Åsbrink]] of [[Sweden]] urging [[President of the European Commission]] [[Jacques Santer]] to cap the proportion of a country's income which goes to the EU as part of his [[Agenda 2000]] spending review.<ref>Tim Jones (27 May 1998), [http://www.politico.eu/article/santer-moves-to-pacify-eus-biggest-paymasters/ Santer moves to pacify EU’s biggest paymasters] ''[[European Voice]]''.</ref>

After his failed attempt to pressure [[Bundesbank]] president [[Hans Tietmeyer]] into a quick revaluation of the country's [[gold reserve]]s in order to bring Germany's budget deficit into line with the criteria for the single currency, Waigel had to confront a parliamentary motion against him on 4 June 1997. He won the vote by just 328 votes to 311.<ref>[[Alan Cowell]] (18 June 1997), [https://www.nytimes.com/1997/06/18/world/a-champion-of-the-euro-finds-that-all-economics-is-local.html A Champion of the Euro Finds That All Economics Is Local] ''[[New York Times]]''.</ref><ref>[http://www.economist.com/node/155230 Germany’s battered bulldozer] ''[[The Economist]]'', 28 August 1997.</ref>

In November 1997, Waigel imposed the strictest [[budget freeze]] in the country's history, in a last-ditch effort to fulfill the [[Euro convergence criteria]]. The freeze, which lasted until the end of that year, was imposed to save the government a further one billion marks ($578.2 million).<ref>Matt Marshall (31 October 1997), [https://www.wsj.com/articles/SB878226691532727000 Waigel Imposes Budget Freeze To Fulfill EMU Entry Criteria] ''[[Wall Street Journal]]''.</ref>

On 30 June 1998, Waigel attended the inauguration ceremony of the [[European Central Bank]] in [[Frankfurt]], Germany, alongside Kohl,<ref>Denis Staunton (2 July 1998), [http://www.irishtimes.com/news/bonn-disillusioned-with-brussels-as-disputes-increase-1.169067 Bonn disillusioned with Brussels as disputes increase] ''[[Irish Times]]''.</ref> ECB President [[Wim Duisenberg]], [[President of the European Commission]] [[Jacques Santer]], [[President of the European Parliament]] [[José María Gil-Robles]], British Prime Minister [[Tony Blair]], and [[Chancellor of Austria]] [[Viktor Klima]].<ref>Kevin Courtney (30 June 1998), [http://www.irishtimes.com/news/riverdance-does-eurodance-at-launch-of-frankfurt-bank-1.168142 `Riverdance' does Eurodance at launch of Frankfurt bank] ''[[Irish Times]]''.</ref>

In 2011, a commentator seeing Germany forced perhaps to choose between monetary stability, on the one hand, and the [[European Monetary Union|EMU]], recalled by way of contrast Waigel's statement at the founding, "We are bringing the D-Mark into Europe."<ref>[[David Marsh (Financial Specialist)|Marsh, David]], [http://www.marketwatch.com/story/germany-forced-to-make-a-choice-us-or-them-2011-08-22?link=MW_story_popular "Germany forced to make a choice: Us or them? Commentary: Berlin’s moment of truth: Stable money or one Europe?"], ''MarketWatch '', 22 August 2011, Retrieved 22 August 2011.</ref>

===Role in Bavarian politics===
In May 1993, Waigel announced that we would leave national politics and run for the state premiership of Bavaria against his rival, [[Edmund Stoiber]].<ref>[http://www.politico.eu/article/germanys-great-survivor-2/ Germany’s great survivor] ''[[European Voice]]'', 25 October 1995.</ref> During what turned into a bitter struggle, it was revealed that he was estranged from his wife and had been in a long-standing relationship with former Olympic skier Irene Epple. In the end, he failed to win the premiership but stayed on as party leader. In late 1995, Waigel was re-elected to the CSU leadership with 95 percent of the vote.<ref>[http://www.politico.eu/article/germanys-great-survivor-2/ Germany’s great survivor] ''[[European Voice]]'', 25 October 1995.</ref>

Following the [[1998 German federal election|1998 elections]], Waigel was succeeded by [[Oskar Lafontaine]]. At the time, he was Germany's longest-serving postwar Finance Minister.<ref>[[Alan Cowell]] (18 June 1997), [https://www.nytimes.com/1997/06/18/world/a-champion-of-the-euro-finds-that-all-economics-is-local.html A Champion of the Euro Finds That All Economics Is Local] ''[[New York Times]]''.</ref>

By the end of the 1990s, Waigel and Minister-President Stoiber of Bavaria were locked in a bitter rivalry for control of the state and its ruling party, the CSU.<ref>Matt Marshall (21 January 1997), [https://www.wsj.com/articles/SB85380028439197500 Germany's Waigel Supports Value-Added-Tax Increase] ''[[Wall Street Journal]]''.</ref> Stoiber had been a vociferous critic of the creation of a single European currency and he has also infuriated both Kohl and Waigel by proposing that wealthy states like Bavaria be freed from having to underwrite social security costs for poorer states.<ref>[[Edmund L. Andrews]] (14 September 1998), [https://www.nytimes.com/1998/09/14/world/conservatives-win-decisive-victory-in-bavarian-election.html Conservatives Win Decisive Victory in Bavarian Election] ''[[New York Times]]''.</ref> In late 1998, Stoiber succeeded Waigel as chairman of the CSU.

==Life after politics==
Since his retirement from German and European politics, Waigel has held paid and unpaid positions, including:
* [[Liechtenstein]], [[Consul (representative)|Honorary Consul]]
* [[Generali Deutschland|AachenMünchener Lebensversicherung AG]], Member of the Supervisory Board
* [[AccorHotels|Accor]], Member of the Board of Directors<ref>[http://www.accorhotels-group.com/fileadmin/user_upload/Contenus_Accor/Finance/Documentation/EN/AG090106_gb.pdf Change in Corporate Governance Structure Approved by the Combined Meeting of Accor Shareholders] [[AccorHotels|Accor]], press release of 9 January 2006.</ref> 
* [[Alcatel Mobile Phones|Alcatel]], Member of the Advisory Board
* Bayerische Gewerbebau AG, Deputy Chairman of the Supervisory Board<ref>[http://www.bayerische-gewerbebau.de/index.php?page=vorstand Supervisory Board] Bayerische Gewerbebau AG.</ref> 
* [[HypoVereinsbank|Bayerische HypoVereinsbank]], Member of the European Advisory Board
* Deutsche Vermögensberatung (DVAG), Chairman of the Advisory Board<ref>[https://www.dvag.de/dvag/unternehmen/aufsichtsrat-und-beirat/ Advisory Board] Deutsche Vermögensberatung (DVAG).</ref>
* [[Eli Lilly and Company|Eli Lilly Holdings Ltd.]], Member of the European Advisory Board
* [[Emerson Electric]], Member of the European Advisory Board
* [[EnBW]], Member of the Advisory Board
* [[Fendt]], Member of the Supervisory Board (since 2007)
* [[Swissair]], Member of the Advisory Board
* [[Munich Documentation Centre for the History of National Socialism]], Co-Chairman of the Board of Trustees (alongside [[Hans-Jochen Vogel]])<ref>[http://www.ns-dokuzentrum-muenchen.de/zentrum/ueber-uns/gremien/ Board of Trustees] [[Munich Documentation Centre for the History of National Socialism]].</ref>
* [[University of Augsburg]], Chairman of the Board of Trustees<ref>[https://www.uni-augsburg.de/einrichtungen/kuratorium/ Board of Trustees] [[University of Augsburg]].</ref>
* Institute for Bavarian History at the [[Ludwig Maximilian University of Munich]], Member of the Board of Trustees<ref>[http://www.bayerischegeschichte.uni-muenchen.de/dasinstitut/kuratorium/index.html Board of Trustees] [[Ludwig Maximilian University of Munich]].</ref>
* [[Institute of the Regions of Europe]], Member of the Board of Patrons
* [[Kissinger Sommer]], Member of the Board of Trustees<ref>[https://www.kissingersommer.de/festival/kuratorium/index.html Board of Trustees] [[Kissinger Sommer]].</ref>
* Eugen Biser Foundation, Member of the Board of Trustees
* [[Hanns Seidel Foundation]], Member of the Board of Executives
* [[German Council on Foreign Relations]] (DGAP), Member of the Board of Executives

After serving as [[Of counsel]] with the Munich office of law firm GSK Stockmann + Kollegen for many years,<ref>[http://karriere.gsk.de/en/theo-waigel-scholarship/ Theo Waigel Scholarship] GSK Stockmann + Kollegen.</ref> Waigel – alongside [[Alexander Radwan]], among others – joined Waigel Rechtsanwälte in 2016.<ref>Christin Nünemann (15 January 2016), [http://juve.de/nachrichten/namenundnachrichten/2016/01/familiensache-muenchner-gsk-team-macht-sich-selbststaendig Familiensache: Münchner GSK-Team macht sich selbstständig] ''Juve''.</ref>

In 2008, following revelations about violations of the [[Foreign Corrupt Practices Act]], the German industrial conglomerate [[Siemens]] agreed to install Waigel as an outside corporate monitor for four years.<ref>Mica Rosenberg (23 March 2016), [https://www.reuters.com/article/us-usa-justice-siemens-idUSKCN0WP2HZ U.S. moves to block release of Siemens anti-bribery monitor reports] ''[[Reuters]]''.</ref> Waigel was the first compliance monitor who is not a U.S. national.<ref>[http://www.siemens.com/press/en/pressrelease/?press=/en/pressrelease/2008/corporate_communication/axx20081220.htm Dr. Theo Waigel appointed as compliance monitor] [[Siemens]], press release of 15 December 2008.</ref> He served in this position between January 2009 and October 2012.<ref>[https://www.handelsblatt.com/unternehmen/industrie/siemens-waigel-beendet-job-als-korruptionsbekaempfer/7325820.html Waigel beendet Job als Korruptionsbekämpfer] ''[[Handelsblatt]]'', 31 October 2010.</ref>

In 2011, Waigel served as a member of the Board of Trustees of the [[Munich bid for the 2018 Winter Olympics]].

In 2012, Waigel joined a newly established external advisory panel under the leadership of [[Jürgen Hambrecht]] at [[Deutsche Bank]], which was to review compensation and governance at the company.<ref>Edward Taylor (25 October 2012), [https://www.reuters.com/article/deutschebank-bonuses-idUSL5E8LP7OX20121025 Waigel on Deutsche Bank panel to scrutinise bonuses] ''[[Reuters]]''.</ref>

Even after the end of his political career, Waigel was a CSU delegate to the [[Federal Convention (Germany)|Federal Convention]] for the purpose of electing the [[President of Germany]] in 2009, 2010,<ref>[http://www.tagesspiegel.de/politik/praesidentenwahl-wer-ist-die-bundesversammlung/1869296.html Wer ist die Bundesversammlung?] ''[[Der Tagesspiegel]]'', 26 June 2010.</ref> [[2017 German presidential election|2017]]<ref>[https://www.bayern.landtag.de/fileadmin/Internet_Dokumente/Sonstiges_P/20161122_Mitglieder_Bundesversammlung.pdf Mitglieder bzw. Ersatzmitglieder der 16. Bundesversammlung] [[Landtag of Bavaria]], press release of 22 November 2016.</ref> and [[2022 German presidential election|2022]].<ref>[https://www.bundestag.de/resource/blob/878348/b21e5621b2f3de04e328535bd589e151/mitglieder_bv_2022-data.pdf 17th Federal Convention, 13 February 2022, List of Members] [[Bundestag]].</ref>

In 2013, Waigel was offered the role of president of [[TSV 1860 Munich]] but decided against it.<ref>[http://www.tz.de/sport/1860-muenchen/theo-waigel-war-kandidat-loewen-praesident-meta-2884145.html Waigel sollte Löwen-Präsident werden] ''[[Tz (newspaper)|tz]]''.</ref> Amid the [[2015 FIFA corruption case]], he declined offers to join an advisory board to the [[FIFA|2016 FIFA Reform Committee]].<ref>Michael Ashelm (9 September 2015), [https://www.faz.net/aktuell/sport/sportpolitik/fifa-reformgruppe-chef-francois-carrard-wollte-theo-waigel-13794014.html Skurrile Züge der neuen Reformgruppen] ''[[Frankfurter Allgemeine Zeitung]]''.</ref>

From 2016 to 2022, following an appointment by [[Chancellor of Germany|Chancellor]] [[Angela Merkel]], Waigel served on a three-member panel (alongside Michael Gerhardt and [[Krista Sager]]) to oversee the implementation of a new law designed to avoid potential conflicts of interest, requiring senior German officials from the chancellor to deputy ministers to observe a cooling-off period if they want to quit the government for a job in business.<ref>[https://www.faz.net/aktuell/wirtschaft/menschen-wirtschaft/theo-waigel-beraet-regierung-bei-minister-wechseln-in-wirtschaft-14352763.html Theo Waigel berät Regierung bei Minister-Wechseln in Wirtschaft] ''[[Frankfurter Allgemeine Zeitung]]'', 22 July 2016.</ref><ref>Christoph Schult (1 April 2022), [https://www.spiegel.de/politik/deutschland/neue-besetzung-bei-karenzzeitwaechtern-a-1642fb10-7a04-4faf-9a01-e4e07a37acce Voßkuhle, Lammert, Sager: Neue Besetzung bei Karenzzeitwächtern] ''[[Der Spiegel]]''.</ref> 

Alongside [[David Gold, Baron Gold]] and [[Noëlle Lenoir]], Waigel was appointed by [[Airbus]] to an Independent Compliance Review Panel (ICRP) in 2017, amid investigations by the [[Serious Fraud Office (United Kingdom)|Serious Fraud Office]] (SFO) and the [[Parquet national financier]] (PNF) into allegations of [[fraud]], [[bribery]] and [[corruption]] in the company's civil aviation business.<ref>[https://www.airbus.com/newsroom/press-releases/en/2017/05/Airbus-establishes-new-Independent-Compliance-Review-Panel.html Airbus establishes new Independent Compliance Review Panel] [[Airbus]], press release of 22 May 2017.</ref><ref>Tim Hepher (22 May 2017), [https://www.reuters.com/article/uk-airbus-ethics-idUKKBN18I0KA Airbus hires outside monitors amid fraud investigations] ''[[Reuters]]''.</ref> In 2021, he was appointed to co-chair – alongside [[Brigitte Zypries]] – an independent expert commission established by audit firm [[Ernst & Young]] to assess its involvement in the [[Wirecard scandal]].<ref>Olaf Storbeck (25 February 2021), [https://www.ft.com/content/831cce77-94d2-4859-a295-e49a42e477d2 EY overhauls German partnership in effort to repair Wirecard damage] ''[[Financial Times]]''.</ref>

==Personal life==
From 1966 to 1993 Waigel was married to Karin Waigel (two children). Since 1994 he has been married to the Olympic alpine skier [[Irene Epple]]; they have one child.<ref name=sr>{{cite Sports-Reference |url=https://www.sports-reference.com/olympics/athletes/ep/irene-epple-1.html |title=Irene Epple |archive-url=https://web.archive.org/web/20200418044025/https://www.sports-reference.com/olympics/athletes/ep/irene-epple-1.html |archive-date=2020-04-18 |check-wikidata=no}}</ref>

== References ==
{{Reflist}}

==External links==
*{{Commons category inline|Theodor Waigel|Theo Waigel}}

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