Treuhandanstalt


Treuhandanstalt

An agency of the German government charged with privatizing numerous state-owned companies in East Germany. Created a few months before the reunification of Germany in 1990, Treuhandanstalt was responsible for 8,500 publicly-owned companies. It privatized many; this was controversial as it necessitated the laying off of two and a half million state employees. The agency was dissolved in 1994 and its remaining assets were transferred to successor agencies. The term "Treuhandanstalt" is German for "trust agency."