Magdeburg in northern Germany was founded by Charlemagne in 805AD, making it 1,200 years old. Its original name was Magadoburg, probably from German for big, ‘magado’, and ‘burga’ for fortress. Emperor Otto I, the first Holy Roman Emperor, lived in the town for most of his reign and was buried in the cathedral after his death. Over the centuries, it has been ravaged by war and destruction as a result of its position as an imperial seat, Prussian fortified town, and as a Hanseatic city. It was heavily bombed in the Second World War, and a RAF bombing raid on the night of 16 January 1944 destroyed most of the city.
1990 saw the city become the capital of the new state of Saxony-Anhalt in the reunification of Germany, with the city center rebuilt in a modern style. After reunification, most of the basis of the economy was shut down, and it faced decline in the population as a result of people seeking lucrative jobs in western Germany. The city however, is known for reinventing itself, and for preserving its cultural heritage. Today it is a beautiful city on the Elbe River with its economy geared towards services, and hosting nearly 20 000 students at its top rated two universities, as well as research centers. It has great sights, including its parks which make it the third greenest city in Germany, and new shopping malls and other attractions; and its proximity to Hamburg, Leipzig and Berlin counts in its favor too.
The Best Time to Go
The best months are between May and September, where the temperature averages between 10 and 20°C (50 to 68°F); although in July and August it can get up to 24°C (75°C). The months from October to April are colder, averaging between 0 and 10°C (32 to 50°F) . The coldest time of year is in January, when it can get as low as -2.1°C (28°F).
Sunshine hours are from 1.3 hours a day in December and 7.7 hours a day in June. July is the wettest month, experiencing rain, sleet, hail or snow over an average of 14 days. Frost mostly occurs in January.
Getting Around in Magdeburg
With regard to public transportation, there are S-Bahn trains, buses, trams and ferries in Magdeburg. The benefit is that they are all unified in a linked transport system called Marego, so they all use the same tickets.
Riding the tram is probably the best system for tourists to use, as the stops are located at the main attractions, and in busy areas. Magdeburg boats 10 tram lines, plus one which is brought into service during heavy traffic times, or for special events. Waiting times vary greatly, and depend on the time, day, and location. In the city centre you rarely have to wait more than 5 minutes, even on a Sunday; while the further out you go, you can wait for between 10 and 20 minutes. Timetables are provided at every stop. If you’re lucky, you might catch a communist-era one, and experience the rattles of the past.
The buses run every 20 minutes, and cover all areas of the city. As with the trams, extra buses are laid on at heavy traffic times and special events. Timetables are at every stop too.
Two ferry services operate Elbe river crossings, the Fähre Buckau and the Fähre Westerhüsen. They run from March to October on Tuesdays to Sundays between 10am and 6pm.
The main train line runs through Magdeburg from the north to the south. The train stations are marked with a logo of a white S on a green circle. The trains run every 30 minutes, and are the fastest method for crossing the city.
Public transportation at night means you need to look at the schedules, as it is more limited. Taxis are of course an alternative.
Major Attractions and Sights
The Gothic Magdeburger Dom (Cathedral of St. Maurice and St Catherine) is the most well-known sight of the city. It was constructed on the site of a Roman cathedral between the years of 1209 and 1520. It is the highest church building in eastern Germany at 104 meters. It has stunning and unique sculptures, notably the ‘Twelve Virgins’ at the northern gate.
The 11th Century Romanesque abbey Kloster unser lieben Frauen (Cloister of Our beloved Lady) is an iconic building in Germany. Among other things, it has an art gallery.
Johanniskirche (St John’s Church) is worth going to see. After sustaining serious damage during WWll it has been recently rebuilt as a multipurpose centre.
The Town Hall dates from 1698. It stands in the place of the original which stood on the marketplace since the 13th Century until its destruction in the Thirty Years’ War. The ‘new’ building was built in the Renaissance style. It has since been renovated, and was reopened in 2005.
In the city centre near the Kloster Unser Lieben Frauen and the cathedral is the Grüne Zitadelle (Green Citadel), a pink house designed by the famous architect Friedensreich Hundertwasser. There are also ruins of the stronghold of the Prussian Empire.
The Kulturhistorisches Museum (Culture Historical Museum) on Otto-von-Guericke-Straße is home to the famous statue, the Magdeburger Reiter.
The city center overall, is a delight for architecture fans, and features some neo-classicist buildings dating from the Communist era, as well as modern marvels built since reunification.
Magdeburg is one of the greenest cities in Europe and the third greenest city in Germany, so riding a bike in Magdeburg is a pleasant experience. Since most of the streets have cycle tracks on the sides you will not have any problems with taking your bike into the city. You are permitted to take your bike with you on all the public transportation; however, you may have to purchase an extra ticket for the bike. A very nice way to explore the idyllic nature in and around Magdeburg is using the Elberadweg. This cycle path leads you all the way along the river Elbe and invites you to explore the unique biosphere reserve around Magdeburg. Signs guide you along the path and show you directions and distances to other towns, villages, and attractions. Many restaurants and beer gardens are right next to the river, as well as some nice hotels, playgrounds and parks.
There are several different river cruises offered by the Magdeburger Weiße Flotte GmbH.
They include: a 1.5 hour cruise along the skyline of Magdeburg; a river cruise from the city centre to the town of Schönebeck; an evening cruise; and cruises along the waterway. Tickets can be bought at the tourist information centre, or onboard.
In recent years, the museums in Magdeburg have regularly featured excellent exhibitions on a whole host of subjects related to art, culture and learning. New collections and exhibitions have also been established and the top-flight Technology Museum has opened with no expense or effort spared. The three other major museums are the Cultural History Museum, the Museum of Natural History and the Art Museum in the Convent of our Lady.
Magdeburg also offers high-caliber entertainment at its opera house, Schauspielhaus theatre and puppet theatre, and there are many independent theatre groups and German-style cabaret performances to enjoy.
In the Elbauen Park the Millennium Tower is a popular draw card; it houses an exhibition on nature and the history of humanity.
The Magdeburg Water Bridge is a navigable aqueduct in Germany that connects the Elbe-Havel Canal to the Mittelland Canal, and allows ships to cross over the Elbe River. At 918 meters, it is the longest navigable aqueduct in the world. Construction of the water link was started as early as in the 1930s, but due to WWII and subsequent division of Germany the work remained suspended till 1997. The aqueduct was finally completed and opened to the public in 2003. It truly is a sight worth seeing.
Shopping in Magdeburg
With 2.5 square meters of retail space per inhabitant, Magdeburg’s city-centre shopping area is one of Germany’s top destinations for shoppers.
There are numerous shopping malls all over the city. In the CBD you have Karstadt, which was a mall during the cold war and is therefore the oldest of the city with its building still representing socialist architecture. After the reunification, the city center got several new shopping malls. The biggest of them is called Allee Centre and has 3 floors. Also located in the city center are the Ulrichshaus and the City Carré. You will also find numerous stores (as well as bars and cafés) along the road Breiter Weg, which used to be one of the largest shopping streets in Europe before WWII and has now regained most of its popularity with modern architecture.
Strolling along Magdeburg’s traditional shopping boulevards Breiter Weg and Ernst-Reuter-Allee, visiting the many shops in the districts of Neustadt and Sudenburg as well as weekly markets will yield some local goods. The city’s most centrally located market is at the Old Market (Alter Markt) in front of the Town Hall. Market days and times are Tuesday to Friday, 9am to 5pm and on Saturday, 9am to 1pm. The market is closed on Mondays. Special attractions are the so-called “Farmers’ Market” which takes place every Tuesday as well as the “Green Market” every Saturday. Produce on sale includes: homemade sausages and cold cuts, fresh fruit and vegetables, flowers, dairy products, cakes and pastries, poultry products, household supplies, lingerie, gifts, and textiles.
If you feel hungry or peckish, there are a number of snack stands offering light meals and snacks to accommodate your needs. Easy access is provided by public transport, and parking places are available in Julius-Bremer-Strasse as well as behind the Karstadt building.
Eating Out in Magdeburg
Hasselbachplatz square and the surrounding streets are lined with dozens of pubs, bars and restaurants plus one of the best-known currywurst bars in Germany, ‘Curry 54’. The Mediterranean restaurant Liebig is popular with all walks and ages. The trendy bar-café-restaurant has a large outdoor terrace, and serves substantial breakfasts, global fare and cool cocktails.
Bingöl Grill on Breiter Weg is a budget legend to lovers of Turkish food and Döner. Clean, with decent service, real silverware, porcelain plates and prices that rival big fast food chains. It’s open until late at night, making it ideal if you need to grab something solid after a night of partying.
Nightlife in Magdeburg
The Hasselbachplatz is the place to start a night out in Magdeburg. Here you will find a big variety of bars and small clubs, a lot of stylish bars and also alternative pubs with long opening hours on weekends.
A premium spot is the Jackelwood, located in the Sternstraße just south from the Hasselbachplatz, with billiards, kicker and a lot of other games. There are quite a few more bars on this area so check them out and you will find one that appeals to you. And you will always get something to eat at the Hasselbachplatz. For very late night drinking pop in at the COCO in the Otto-von-Guericke-Street (50m) from Hasselbachplatz
An amazing night at the theatre – with a difference! – can be had at the fabulous Theater an der Angel. The company is owned by Matthias Engle and Ines Lacroix who performed in the Neil Simon comedy Der letzte der feurigen Liebhaber.
Of local Interest
In the Elbauen Park at Easter, you can go along and watch a huge bonfire of firewood. A snowman made at Magdeburg’s theatre workshops is placed on top, and the lighting of the bonfire is said to be banishing winter from the park.
Hassel Night Line takes place on the Hasselbachplatz – a twice-a-year street festival with open-air stages and music on every narrow street.
September 2011 saw the inception of the Kaiser Otto Festival.
September also sees the popular annual summer theatre at the Puppet Theatre in the courtyard, which combines puppet shows and theatre plays.
In October is the Magdeburg Town Festival. On the ‘festival mile’ you’ll find show stands, market stalls, carousels and different stage programs by many entertainers, including from regional TV and radio stations. The ‘mile’ runs from the cathedral to University Square.
Also in October is the Magdeburg marathon.
Wirecard : How Jan Marsalek Friend Henry O’Sullivan became “Corinna Müller”
The Briton Henry O’Sullivan is regarded as the dazzling puller of many Wirecard deals and friend of Jan Marsalek and internal emails show how big his influence was in the company.
Henry O’Sullivan celebrated his 40th birthday in paradise. He invited lawyers, managers and high-ranking executives from Wirecard to the lonely dream island of Benguerra off the coast of the East African state of Mozambique. Board member Jan Marsalek and his girlfriend should also come.
As a souvenir, the host wanted: pens for the school children in town and champagne for the party weekend.
The luxury resort Azura Retreats, which O’Sullivan rented in November 2014, had cabins right on the beach, palm trees, and a beach. On arrival, the guests would have to wade through knee-deep water as the British businessman’s assistant warned a month before the celebration. That wasn’t a problem for Jan Marsalek. He preferred to travel by helicopter anyway, according to an email from his secretary.
The extravagant birthday plans reveal a lot about two of the central key figures in the Wirecard scandal. Jan Marsalek (40) and Henry O’Sullivan (46) are close confidants who worked together on big deals far away from the headquarters in Aschheim. Now the judiciary is asking whether millions have been diverted. Wirecard is insolvent and Marsalek is on the run.
O’Sullivan does not answer inquiries. At the beginning of 2020, he only wanted to talk to the examiners from KMPG and EY under certain conditions but then he was no longer available to them.
The beefy Brit was known for his dissolute lifestyle. In Singapore he often dined in a top restaurant on the roof of the Marina Bay Sands hotel, with a view over the harbor. To save time on business trips, he preferred to travel short distances by helicopter instead of taxi and in the meantime he lived on a yacht in Monaco.
Marsalek had O’Sullivan flown in in 2014 to celebrate with him at the Munich Oktoberfest. A year later they flew through South Africa in the Learjet 45XR. And when the Briton wanted to meet the Wirecard executive board in Jakarta in 2014, he asked an Indonesian employee by email about a hotel that would tolerate the “type of spring break business trips”.
Beyond its luxury life, only fragments of O’Sullivan’s businesses are known. The Briton did not hold an official position at Wirecard. Many consider him a “phantom” in the background, a member of the mysterious clique around Marsalek.
It was stored in the Wirecard address book with an external e-mail address for freelancers – his profile photo showed Pablo Escobar, the Colombian drug lord: another bad joke by Jan Marsalek, as insiders suspect.
As much as O’Sullivan was on business trips, he was always careful to be discreet. This is also shown by an episode from spring 2020, when the Wirecard world was already falling apart and auditors examined the opaque third-party business for which Marsalek was responsible.
O’Sullivan was very knowledgeable about third party business and a strange company purchase in India in 2015. He was therefore a sought-after discussion partner for the annual auditors from EY and the special auditors from KPMG. O’Sullivan apparently managed to convince the supervisory board of a special protective measure.
A sought-after discussion partner for EY and KPMG
O’Sullivan demanded at the end of April or beginning of March 2016 that his name should not be recorded in the “final report” or in any other correspondence with Wirecard. “These papers have a habit of appearing in public,” he wrote to an assistant at Marsalek. He assumes that “everything that is written will ultimately be read by others” and he therefore insists on being given a pseudonym.
This is how Mr. O’Sullivan became Mrs. Müller. On March 4, a legal advisor to the Supervisory Board wrote to Wirecard management: “As discussed yesterday, a code name should be used for all further e-mails and other references. Proposal: ‘Ms. Corinna Müller’. ”On the same day, EY agreed not to use the name in communication with Wirecard international.
According to supervisory board circles, however, it was clear: There should be no special treatment in the confidential internal audit report, and O’Sullivan’s real name would have been mentioned here.
But it did not get to that. According to the “Wall Street Journal”, the special auditor KPMG was cross: O’Sullivan had also made the condition of their auditors anonymous. When they refused, he refused to speak.
He could tell so much in the process. In the ten years before the bankruptcy alone, Wirecard acquired companies for 1.2 billion euros, according to insolvency administrator Michael Jaffé. In his report, Jaffé writes that the deals were one reason for the “enormous consumption of liquidity in recent years”. The public prosecutor is investigating former executives on suspicion of fraud and breach of trust.
O’Sullivan was involved in numerous Wirecard deals. His name is linked to one of the largest and most dubious deals the payment service provider has done in recent years: the takeover of the Indian Hermes group in 2015. Wirecard bought the companies from the Mauritius-registered fund Emerging Markets Investment Fund 1A (EMIF 1A) for 326 million euros. The amazing thing: the fund had only acquired the same company and assets a few months earlier for around 35 million euros and it is still not clear who was behind that deal
Marsalek stated in an interview with Handelsblatt at the beginning of 2020 that he had not checked the background. But insiders report that O’Sullivan and Marsalek were the ones who planned the deal and who ultimately benefited from it. In any case, the original Hermes sellers now feel cheated. They filed a lawsuit that revealed that it was O’Sullivan who negotiated the sale to the EMIF 1A fund for € 35 million.
The central figure in Senjo was also O’Sullivan, even if he did not hold an official position. A PR consultant for the British company stated in 2019 that her client worked for Senjo. That’s only half the story. In practice, O’Sullivan is said to have been the one in charge of Senjo. In Singapore, the authorities are now investigating for falsification of accounts in the vicinity of the group of companies.
How hard Marsalek worked internally at Wirecard for his party friend O’Sullivan is shown by a short-term lending business from 2016, which several Wirecard board members dealt with. Ascheimer Wirecard Bank AG granted Cottisford Holdings Ltd, a generous credit line of ten million euros from O’Sullivan, for which Wirecard AG guaranteed as internal emails and documents prove this.
“Today the supervisory board formally approved the loan retrospectively, but was not ‘amused’ about it,” wrote the then board member Rainer Wexeler of Wirecard Bank AG on March 2, 2016 to Marsalek. He complained that the panel had been poorly informed. Wexeler asked: “Can you please give me the private address of O’Sullivan and some key business data about his business, his connection to Wirecard AG, etc.?”
Wirecard Scandal claims another Victim – Heike Pauls from Commerzbank
It’s not even eight months since Germany’s number one payment service provider imploded: Wirecard had to admit in June 2020 that billions of euros never existed on the balance sheet. As a result, board members had to go to jail or disappeared without a trace. Since then, auditors have been distrusted, and the head of the BaFin supervisory authority has to look for a new job. The youngest victim is Heike Pauls of the German Commerzbank.
Up until a few weeks before the Wirecard scandal burst, several analysts in various banks believed in Wirecard. They unshakably believed that the annual financial statements for 2019, which had been postponed several times, would end well, some experts continued to insist on Wirecard price targets of 180 to 240 euros.
One of the bravest supporters of the scandal group was Heike Pauls from Commerzbank. The analyst was always loyal to Wirecard: She dismissed critical reports about the payment processor as false reports and even a few weeks before the collapse she issued a buy recommendation with a price target of 230 euros for the Wirecard share.
As the Spiegel reported, Pauls had in the meantime also provided the management of the payment processor with sensitive information that it had collected specifically on the capital market. In January Commerzbank had already restructured the research department and relieved the analyst of her duties, now the announcement was made:
“Commerzbank has terminated the employment relationship.”
The Wirecard scandal is far from being dealt with. Further personnel consequences in various economic areas could follow. Extensive claims for damages by investors against the insolvent payment service provider are also examined and the the Wirecard share remains taboo for any investors.
Wirecard Committee – Doubts about Karl-Theodor zu Guttenberg’s Credibility
Didn’t Karl-Theodor zu Guttenberg tell the whole truth when he appeared as a witness on the Wirecard investigative committee? Internal documents that are available to the ARD studio fuel the suspicion. The SPD accuses him of having lied to the committee and in the opposition too, doubts about its credibility are growing.
In December Guttenberg was asked about his role in the Wirecard scandal in the Bundestag. It was also about an article that the former CSU minister published in the “Frankfurter Allgemeine Zeitung” at the end of March 2020. The topic: The role of short sales in the Corona crisis. At the time, Wirecard was targeted by shortsellers, i.e. stock exchange traders who bet on falling prices for a company and Guttenberg had argued against such short sales in the article.
Mail to ex-Wirecard boss Markus Braun
Guttenberg apparently did not want to draw a direct connection to his work for Wirecard, but there are doubts about this representation.
An email to the then Wirecard boss Markus Braun, however, indicates that Guttenberg could very well have had the now insolvent DAX group in mind when he wrote the text for the FAZ.
In this email of March 20, 2020, the Managing Director of the communications company Edelman, Rüdiger Assion, proposed a “Short Selling Action Plan” to the Wirecard boss. Among other things, this contained the suggestion that Guttenberg could write a guest commentary on the subject of short sales in the newspapers FAZ or “Die Welt”. An argumentation paper with key messages is also attached to the mail. Just six days later, exactly such a guest comment appears in the FAZ. Guttenberg’s argumentation shows clear similarities with the line proposed in the argumentation paper.
SPD speaks of a lie
The SPD chairman in the Wirecard committee, Zimmermann, therefore accuses Guttenberg of not telling the truth on the witness stand. Zimmermann told the ARD city studio: “He (Guttenberg’s note by the editor) lied to the investigative committee and tried to set the wrong track when he denied arguing for a ban on short sales in the interests of Wirecard. A real surprise is this lack of honesty not with him. ” Now it must be clarified whether Guttenberg deliberately wanted to mislead the investigative committee.
CDU defends Guttenberg
Guttenberg is defended by the CDU. The MP Matthias Hauer said that the SPD should primarily devote itself to the question of why the BaFin, supervised by Finance Minister Olaf Scholz, imposed the short sale ban on Wirecard. “This should certainly contribute more to the explanation of Wirecard than an article in the name of an ex-politician on the subject in the FAZ.”
But doubts about Guttenberg’s credibility are also growing among the opposition. The chairman of the Greens, Danyal Bayaz, said that Guttenberg’s remarks on his opinion contribution had already been implausible in the committee of inquiry. “Apparently it was part of the advisory service to specifically win over public opinion for a renewed ban on short selling.” That does not cast a good light on Guttenberg’s honesty.
The Linke chairman in the committee, Fabio de Masi, can imagine summoning the former Federal Minister again: “If Mr. Guttenberg was Baron Münchhausen and had said the untruth in front of the committee of inquiry, this would also be criminally relevant, (…) the question is then whether his other statements that he had met the Chancellor privately are also untrue. “
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