Financial Deregulation And Restriction Act of 2018
Rationale
These changes aim to boost economic growth by reducing regulatory burdens while ensuring stricter asylum controls to enhance public security and resource allocation.
Proposed Changes
| Law | Previous | Proposed | ||
|---|---|---|---|---|
| 1 | Banking & Financial Regulation |
Deregulated financial centre
|
Deregulated financial centre
|
|
| 2 | Competition & Monopolies |
Active competition enforcement
|
Permissive on mergers and scale
|
|
| 3 | Asylum & Refugees |
Meet international obligations only
|
Strict processing, limited support
|
1
Banking & Financial Regulation2
Competition & Monopolies3
Asylum & RefugeesProposer
Party
National League For Freedom And Democracy
Center-right liberal party, which wants to build a great future for the nation through patriotism, free market and economic solidarity in the ordoliberal spirit
Core pillars
Paul Mayer
Federal Minister of the Interior · Age 61
Raised in a factory town, Paul Mayer spent decades as a labor organizer before turning to politics, where his working-class roots and unshakable idealism now challenge both corporate excess and political cynicism.
Timeline
-
Draft17 October 2018
-
Vote Open17 October 2018
-
Vote Closed16 December 2018
-
Became Law16 December 2018
Vote tally
Live tally across each chamber. Weighted by seats held.
Bundesrat
PassedFor: 43 / 69 seats (62.3%)
Against: 0 · Abstained: 0 · Not voted: 26
| Party | Seats | Vote | Reason |
|---|---|---|---|
| Civic Platform | 0 | No | No reason given |
| Liberal Nationalist Coalition | 7 | Yes | No reason given |
| Liberal Union | 8 | Yes | No reason given |
| National League For Freedom And Democracy Proposer | 11 | Yes | No reason given |
| National People's Front | 10 | Yes | No reason given |
| The Christian Democrats | 7 | Yes | No reason given |
Bundestag
PassedFor: 393 / 650 seats (60.5%)
Against: 0 · Abstained: 0 · Not voted: 257
| Party | Seats | Vote | Reason |
|---|---|---|---|
| Civic Platform | 0 | No | No reason given |
| Liberal Nationalist Coalition | 96 | Yes | No reason given |
| Liberal Union | 101 | Yes | No reason given |
| National League For Freedom And Democracy Proposer | 66 | Yes | No reason given |
| National People's Front | 69 | Yes | No reason given |
| The Christian Democrats | 61 | Yes | No reason given |