The address of the Bundesbank's website is www.bundesbank.de. The Bundesbank's editorial team writes this area of the website. 

It is often said that wage moderation in Germany was the primary cause of the current account imbalances in the euro area that emerged prior to the financial crisis. A new study puts this hypothesis to the test.

The research dataset “Statistics on international financial and capital transactions (SIFCT)” provides detailed information on capital transfers receivable and payable between residents and nonresidents, the acquisition and disposal of nonproduced, nonfinancial assets as well as transactions involving financial assets and liabilities and investment income.

Banks lend each other money. They need to trust each other to do this. The Bundesbank makes sure that banks trust each other.

Burkhard Balz, the Executive Board member responsible for the CIC, draws on his many years of experience to bring personal insights to international central bank dialogue.