Recollections of the German Treaty Negotiations of 1990

It was on the evening of 26 March 1990 that my telephone rang. The Federal Finance Minister, Dr Theo Waigel, was on the line. He came straight to the point. ‘Mr Tietmeyer, we need you in Bonn again. It’s an historic assignment. On behalf of the Federal Government, I would like to ask you to chair the negotiations on intra-German monetary, economic and social union, which are of such importance to our country.’ I was greatly taken aback, and asked for 24 hours to think it over. It had been barely three months since I had moved from the Federal Ministry of Finance to the Board of the Bundesbank. On the one hand, of course, the assignment was tempting. On the other, I had to give due regard to the constraints imposed by my new position. I made a reply to that effect on the following evening. My agreement in principle was subject to certain conditions; I would be able to accept the assignment only if I could be temporarily released by the Bundesbank for the purpose, if the assignment would be subject to a strict time-limit, and provided that it did not conflict with my position at the Bundesbank. The decision on this would lie with the Bundesbank. The minister immediately contacted the President of the Bundesbank, Mr Karl Otto Pöhl. Just two days later the Central Bank Council approved a motion to this effect by Mr Pöhl, referring to the function of advising the Federal Government provided for in the Bundesbank Act. Following this, both the Bundesbank President and the Federal Finance Minister agreed that I would be seconded as the Federal Chancellor’s personal adviser until the conclusion of the negotiations.