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Encyclopedia > Treuhand

The Treuhand (Treuhandanstalt or Treuhand agency) was the agency that privatized the East German state owned enterprises. Created by the Volkskammer on June 17, 1990, it oversaw the restructuring and selling of 8.500 firms with initially over 4 million employees.


Its operations drew heavy criticism for unnecessary closing off of profitable businesses, misuse and waste of funds and unnecessary layoffs. When its operations ended in 1994, it had amassed 260 to 270b DM in debt.


The later chairmain of the Treuhand, Detlev Karsten Rohwedder was shot by the Rote Armee Fraktion (RAF) and succeeded by Birgit Breuel.


  Results from FactBites:
 
Treuhand (365 words)
Ihre Aufgabe ist es, die früheren volkseigenen Betriebe auf dem Gebiet der ehemaligen DDR wettbewerblich zu strukturieren und zu privatisieren.
Die Berliner Treuhandanstalt (THA) und ihre Nachfolgerin, die Bundesanstalt für vereinigungsbedingte Sonderaufgaben (BvS), hatten die für den Erfolg der deutschen Vereinigung vielleicht wichtigste Aufgabe übernommen: Sie sollten die sozialistischen Planwirtschaft der DDR in eine "blühende" Marktwirtschaft verwandeln.
The organisation that was set up to achieve that task was the privatization agency, the Treuhand.
German Unification, Treuhand Anstalt (4539 words)
The 'Treuhand' was able to see itself in terms of an auction house, selling off the entire economic base of the former GDR in the shortest time to the highest bidder.
Obviously, the whole construct of the 'Treuhand' was overtaxed by the task of privatizing the state owned economy of one of the more important industrial countries of the Cold War period.
The 'Treuhand' was totally at loss trying to understand the special industrial culture of state socialism with its emphasis on social and even political gratifications at the work place itself.
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