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German Government's Meyer Werft Bailout Based on Incomplete Assessment
In 2022, Germany's Lower Saxony state and the federal government purchased 40% stakes each in the financially troubled Meyer Werft shipyard, guaranteeing €2.6 billion in loans based on initial viability assessments that did not account for cost overruns on new projects, including converter platforms...
German Government's Meyer Werft Bailout Based on Incomplete Assessment
In 2022, Germany's Lower Saxony state and the federal government purchased 40% stakes each in the financially troubled Meyer Werft shipyard, guaranteeing €2.6 billion in loans based on initial viability assessments that did not account for cost overruns on new projects, including converter platforms...
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