Theo Waigel
As Germany's finance minister, he steered the economic merger of East and West and gave the euro its name.
Born 1939 (age 87)·German politician·Birthday: April 22·The Silent Generation
Biography
Theo Waigel was a steadfast pillar of Bavarian conservative politics for decades, a figure of pragmatism during a period of immense German transformation. Elected to the Bundestag in 1976, he rose through the ranks of the Christian Social Union, becoming its chairman in 1988. His defining chapter began in 1989 when he was appointed Germany's Federal Minister of Finance. Almost immediately, the Berlin Wall fell, and Waigel was handed the Herculean task of financing German reunification, managing the complex conversion of the East German Ostmark. A committed European, he was a key architect of the Maastricht Treaty and is famously credited with coining the name 'euro' for the single European currency. His tenure, marked by fiscal discipline and historic change, cemented his reputation as a central player in shaping modern Germany's economic destiny.
The Silent Generation
1928–1945
Born between the Depression and the end of WWII. Too young to fight, old enough to remember. They became the conformist middle managers of the 1950s — and the civil rights leaders who quietly dismantled Jim Crow.
Theo was born in 1939, placing them squarely in The Silent Generation. The events that shaped this generation — world wars, depression, and rapid industrialization — shaped the world they entered and the choices available to them.
#1 When Theo Was Born
The biggest hits of 1939
#1 Movie
Gone with the Wind
Best Picture
Gone with the Wind
Theo's Life & Times
The world at every milestone
1939Born
World War II begins; The Wizard of Oz premieres
Gas: $0.19/galMin wage: $0.30/hrPresident: Franklin D. Roosevelt"Over the Rainbow" — Judy GarlandBest Picture: Gone with the Wind
1944Started school
D-Day: Allied forces land at Normandy
Gas: $0.21/galHome: $3,400Min wage: $0.30/hrPresident: Franklin D. Roosevelt"Swinging on a Star" — Bing CrosbyBest Picture: Going My Way
1952Became a teenager
Queen Elizabeth II ascends the throne
Gas: $0.27/galHome: $8,350Min wage: $0.75/hrPresident: Harry S. Truman"Blue Tango" — Leroy AndersonBest Picture: The Greatest Show on Earth
1955Could drive
Rosa Parks refuses to give up her bus seat
Gas: $0.29/galHome: $9,550Min wage: $0.75/hrPresident: Dwight D. Eisenhower"Rock Around the Clock" — Bill Haley & His CometsBest Picture: Marty
1957Could vote
Sputnik launches the Space Age
Gas: $0.31/galHome: $10,550Min wage: $1.00/hrPresident: Dwight D. Eisenhower"All Shook Up" — Elvis PresleyBest Picture: The Bridge on the River Kwai
1960Turned 21
Kennedy-Nixon debates become first televised presidential debates
Gas: $0.31/galHome: $11,900Min wage: $1.00/hrPresident: Dwight D. Eisenhower"Theme from A Summer Place" — Percy FaithBest Picture: The Apartment
1969Turned 30
Apollo 11: humans walk on the Moon; Woodstock festival
Gas: $0.35/galHome: $15,550Min wage: $1.60/hrPresident: Richard Nixon"Sugar, Sugar" — The ArchiesBest Picture: Midnight Cowboy
1979Turned 40
Iran hostage crisis begins; Three Mile Island accident
Gas: $0.86/galHome: $37,900Min wage: $2.90/hrPresident: Jimmy Carter"My Sharona" — The KnackBest Picture: Kramer vs. Kramer
1989Turned 50
Berlin Wall falls; Tiananmen Square protests
Gas: $1.00/galHome: $79,100Min wage: $3.35/hrPresident: George H.W. Bush"Look Away" — ChicagoBest Picture: Driving Miss Daisy
1999Turned 60
Columbine shooting; Y2K panic builds
Gas: $1.17/galHome: $113,900Min wage: $5.15/hrPresident: Bill Clinton"Believe" — CherBest Picture: American Beauty
2009Turned 70
Michael Jackson dies; Bitcoin created
Gas: $2.35/galHome: $148,500Min wage: $7.25/hrPresident: Barack Obama"Boom Boom Pow" — The Black Eyed PeasBest Picture: The Hurt Locker
2019Turned 80
First image of a black hole; Hong Kong protests
Gas: $2.60/galHome: $224,400Min wage: $7.25/hrPresident: Donald Trump"Old Town Road" — Lil Nas XBest Picture: Parasite
2026Age 87 today
Gas: $3.91/galPresident: Donald Trump
Key Achievements
- Served as Germany's Federal Minister of Finance during the critical period of reunification from 1989 to 1998.
- Credited with proposing the name 'euro' for the single European currency at a 1995 EU summit.
- Chaired the Christian Social Union (CSU) party in Bavaria from 1988 to 1999.
Did You Know?
He is a trained lawyer and worked as a civil servant before entering full-time politics.
Waigel was a member of the Bundestag for the constituency of Neu-Ulm for 26 consecutive years.
The strict deficit criteria for EU countries in the Maastricht Treaty were often informally called the 'Waigel criteria' in Germany.
“The Deutschmark must remain stable; that is my non-negotiable duty.”
