Deutsche Bundesbank

 Dr. Jens Weidmann

"Purchase of government bonds harbours risks"

Bundesbank President Jens Weidmann is critical of the ECB Governing Council's recent decision to purchase government bonds. He does not consider such a programme necessary at present, and sees a risk that the purchases might reduce the pressure on crisis countries to reform. He said that the specific structure would mitigate at least some of the problems that government bond purchases entail.

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Dr. Joachim Nagel

"A haircut would not be a solution"

Bundesbank Executive Board member Joachim Nagel has warned of "fatal consequences" for the Greek financial system if the country's assistance programme were to be discontinued. Greece will continue to be reliant on assistance, also in the future, Mr Nagel told the Handelsblatt newspaper. He does not believe that a haircut would bring about a lasting improvement for the country.

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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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Jens Weidmann at the New Year reception of the Chambers of Industry and Commerce in Ulm and Oberschwaben-Bodensee © Rolf Schultes / IHK

"Soundness must not take a back seat to flexibility"

Bundesbank President Jens Weidmann has warned that the budgetary rules in the euro-area countries should not be interpreted too flexibly. Speaking at an event in Biberach, Mr Weidmann said that sound budgets were a key prerequisite for the stability of the single currency, for which every member state was responsible.

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Carl-Ludwig Thiele

We shouldn't be telling people what means of payment to use

Bundesbank Executive Board member Carl-Ludwig Thiele does not believe that cash is being crowded out by other payment systems. In an interview with the German economic journal, "Capital", he talks about German consumers' payment habits and the future of cash.

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Bundesbank - Gold bars

Transfers of gold are on schedule

The Bundesbank stepped up its transfers of gold in 2014, shifting a total of 120 tonnes of gold from storage locations abroad to Frankfurt am Main. As noted by Executive Board member Carl-Ludwig Thiele, "Implementation of our new gold storage plan is proceeding smoothly". Under this plan, half of Germany's gold reserves are scheduled to be stored in Frankfurt am Main by 2020.

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industry

Signs of an economic improvement

The Bundesbank sees signs of a more rapid upturn in economic activity in Germany than widely expected. In its latest Monthly Report, the Bundesbank cites the positive consumer climate as well as favourable developments in industrial orders and output as factors underpinning this. The economists expect the dramatic fall in crude oil prices to have a marked effect on growth.

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Bundesbank Zentrale

Executive Board decides on new allocation of responsibilities

The Bundesbank's Executive Board has reshuffled its areas of responsibility. The new Executive Board member is Johannes Beermann. Mr Beermann will be taking over responsibility for the Human Resources and Administration and Premises Department as well as for the Procurement Centre from his predecessor Rudolf Böhmler, who has now retired.

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Pictures of a commemoration ceremony for Karl Otto Pöhl © Uwe Nölke / Bundesbank

Bundesbank commemorates Karl Otto Pöhl

The Bundesbank has marked the passing of its former President Karl Otto Pöhl in a commemorative ceremony. "Today we mourn the passing of an outstanding figure in the world of central banking who was instrumental in paving the way for European monetary union," said Bundesbank President Jens Weidmann at a commemorative ceremony in Frankfurt am Main. Karl Otto Pöhl passed away on 9 December 2014 at the age of 85.

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 Dr. Jens Weidmann in einem Interview © Jens Braune del Angel

Communicating policy more clearly

Bundesbank President Jens Weidmann is optimistic about 2015. "Provided there are no major political crises, I see no reason for doom and gloom", he commented in an interview with the Sunday edition of the Frankfurter Allgemeine Zeitung (FAZ). In light of the growing influence of euro-critical groups, he commented that it was necessary for policy makers to get their message across more clearly and recognise that "Not all problems can be solved at the touch of a button."

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Skyline Frankfurt am Main

Compromise reached over resolution fund

The financing arrangement for the Single Resolution Fund has now been agreed upon, bringing a period of protracted negotiations to a close. This move means that another key pillar of the banking union is about to be put in place.

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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

Financial Stability Review: The press conference  

Bundesbank Deputy Governor Claudia Buch and Executive Board member Andreas Dombret present the 2014 Financial Stability Review to the press.

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