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20 euro banknote, second series

New €20 banknote to enter circulation at the end of November

ECB President Mario Draghi unveiled the €20 banknote of the Europa series on 24 February 2015. The new banknote includes an additional innovative security feature in the form of a “portrait window” set in the hologram, which makes it even more counterfeit-proof than its predecessor. The new banknote will enter circulation on 25 November 2015.

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Dr. Jens Weidmann

"Several governments did not use the time"

 Bundesbank President Jens Weidmann believes that the French and Italian governments have finally accepted that reforms had been put on hold for too long. Implementation was now key, he said in an interview with the German weekly newspaper DIE ZEIT, adding that he sincerely hoped for success because both countries were extremely important for the stability of the euro area.

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Picture shows Andreas Dombret © Wolfgang Borrs / EUROFORUM

"Take a sober view of the interest rate situation"

Andreas Dombret, member of the Bundesbank's Executive Board, has called on credit institutions and savings banks to adjust their business strategies to the low-interest-rate environment. In a speech held in Berlin, Dombret said that instead of living off one's resources and hoping that interest rates will change in the near future, they should consider how they can generate a sustained flow of stable earnings.

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Photo shows escalators in shopping mall

Marked pick-up in German economy

The steep slide in oil prices and the euro's depreciation stimulated economic growth in Germany towards the end of 2014. Gross domestic product (GDP) rose by 0.7% in real terms in the fourth quarter of 2014 compared with the third quarter. The Bundesbank writes in its latest Monthly Report that the economic upturn is set to continue in the current year.

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Photo shows of the boardroom Governing council of the ECB © Robert Metsch / ECB

ECB publishes first-ever monetary policy meeting account

The European Central Bank (ECB) has published its first-ever account, a document summarising the discussions of the ECB Governing Council's monetary policy meetings. The minutes of these meetings, however, will continue to remain locked away for 30 years.

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Pair of semi-detached houses with freehold flat

Weaker upward pressure on prices in the housing market

According to the Deutsche Bundesbank's current Monthly Report, prices for apartments and houses are still increasing, but upward pressure on housing prices has weakened, especially for properties in urban areas.

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Photo by Jens Weidmann in the City of London Corporation © Henry Tanner / City of London Corporation

"Structural problems cannot be resolved by printing money"

The President of the Bundesbank, Jens Weidmann, believes that measures taken by central banks cannot take the place of necessary structural reforms. During a speech in London, he welcomed the assurances of some European heads of government that they do not intend to ease up in their efforts, but also expressed a certain degree of scepticism.

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Claudia M. Buch © Alexandra Lechner / Bundesbank

"Debate on debt haircut is unhelpful"

Bundesbank Deputy President Claudia Buch has voiced her opposition to a debt haircut for Greece. In an interview with the German business weekly Wirtschaftswoche, she stated that Greece’s problems were primarily of a structural nature and required a clear commitment to reforms.

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Photo shows the flag of greece © Angelika Stern / iStock

Weidmann: Short-term financial assistance can only buy Greece time

According to Bundesbank President Jens Weidmann, short-term financial assistance can only buy Greece time. Speaking on the sidelines of the meeting of the G20 finance ministers and central bank governors in Istanbul, Weidmann said that Greece could only solve its problems in the long run by making its public finances solid and its economy more competitive.

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Internationaler Währungsfonds - IWF

Germany adopts new IMF data standard

Germany, in parallel with eight other countries, will for the first time publish statistical data in line with the new and most comprehensive IMF data standard, Special Data Dissemination Standard Plus. This standard constitutes an important step towards closing the data gaps that have been revealed by the global financial crisis.

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Photo shows skyscrapers

Bundesbank receives final payment from Lehman insolvency proceedings 

The Bundesbank received its final payment from the insolvency proceedings concerning Lehman Brothers Bankhaus AG (LBB) in January 2015. This means that the original claim of around €8.5 billion plus accrued costs and interest receivable of roughly €0.8 billion from the years following the insolvency have been settled in full.

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Euro banknotes

Rise in the number of counterfeit banknotes detected by the Bundesbank

The number of counterfeits recorded by the Bundesbank has risen by 63% on the year. Bundesbank Executive Board member Carl-Ludwig Thiele says that the incidence of counterfeits in Germany is still low on the whole, however. The €50 note is a particular favourite among counterfeiters.

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Technical Central Bank Cooperation

International Central Banking Courses 2015

The Centre for Technical Central Bank Cooperation will be offering a range of international central banking courses in 2015 as well. Please use the online application to apply. An overview of these courses you can find here.

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Additional information

Euro exhibition in Osnabrück  

A joint exhibition, organised by the European Central Bank (ECB) and the Deutsche Bundesbank, was opened in Osnabrück on 25 January 2015. The exhibition will run until 3 May in the Cultural History Museum in Osnabrück, showing the history of the single currency. 

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Euro exhibition in Osnabrück