German Economy Minister Peter Altmaier said the interests and the reputation of the country were at stake while commenting on the investigation into the Wirecard scandal.
He spoke after being questioned along with Vice Chancellor and Finance minister Olaf Scholz by a Bundestag panel in Berlin on Wednesday.
«The operation of Wirecard is depressing and alarming. The interests and the reputation of our country are at stake here as well as the interests of the investors and the interests of our trust in the legal institutes,» said Altmaier.
German government officials are facing accusations they acted too late in the wake of the scandal.
Payment services company Wirecard filed for insolvency last month after admitting that 1.9 billion euro supposedly held in trustee accounts by overseas partners probably did not exist.