Moscovici in late 2014, Schäuble and the finance ministers of the eurozone's other big economies – Michel Sapin of France and Pier Carlo Padoan of Italy – urged the European Commission to draw up EU-wide laws to curb corporate tax avoidance and prevent member states from offering lower taxes to attract investors, calling for a comprehensive anti-BEPS (Base Erosion and Profit Shifting) directive for member states to adopt by the end of 2015. On Schäuble's initiative, Germany became a founding member of the Asian Infrastructure Investment Bank. At a 2015 meeting of the G-20 major economies, he called for better integration of Islamic finance into the international financial system. When Federal President Joachim Gauck announced in June 2016 that he would not stand for reelection, Schäuble was soon mentioned by German and international media as likely successor; the post eventually went to Frank-Walter Steinmeier instead. From late 2016, Schäuble served as member of the German government's cabinet committee on Brexit at which ministers discuss organizational and structural issues related to the United Kingdom's departure from the European Union. President of the Bundestag, 2017–2021 Following the 2017 elections, Schäuble was persuaded to step down as Minister of Finance. He was nominated by the majority CDU/CSU parliamentary group as the next president of the Bundestag, succeeding Norbert Lammert. In his capacity as president, he chairs the parliament's Council of Elders, which – among other duties – determines daily legislative agenda items and assigns committee chairpersons based on party representation. As Bundestag President, Schäuble worked to curb the antics of the far-right Alternative for Germany, the largest opposition party in the Bundestag. As the country's second-highest-ranking official, Schäuble represented Germany at the funeral of U.S. Senator John McCain in 2018. Ahead of the Christian Democrats' leadership election in 2018, Schäuble publicly endorsed Friedrich Merz to succeed Angela Merkel as the party's chair. Following the 2021 German federal election, the SPD became the largest party in the Bundestag. By convention, the largest party gets to choose the President. The SPD nominated Bärbel Bas, who was elected during the opening session of the 20th Bundestag. Schäuble remains Member of the Bundestag. Since he is the longest-serving Member of the Bundestag, it was his task to oversee the opening session of the new Bundestag, including the election of his successor. Political views European integration Echoing earlier proposals made by Prime Minister Édouard Balladur of France, Schäuble