The Bundesbank has a dedicated credit assessment system to assess the credit quality of debtors of non-marketable assets. Credit assessment goes back a long way at the Bundesbank. Counterparties can use the Bank's credit assessment to determine an enterprise's or debtor's eligibility in the context of their monetary policy operations.

The Bundesbank has a dedicated credit assessment system to assess the credit quality of debtors of non-marketable assets. Credit assessment goes back a long way at the Bundesbank. Counterparties can use the Bank's credit assessment to determine an enterprise's or debtor's eligibility in the context of their monetary policy operations.

Concluding panel with Benoît Cœuré, European Central Bank, Marcel Fratzscher, German Institute for Economic Research, Mario Monti, Bocconi University and Christoph Schmidt, German Council of Economic Experts. Chair: Christine Lagarde, International Monetary Fund

Session 3: "Germany’s current account surplus: a problem to be fixed?" with Clemens Fuest, ifo Institute, Maurice Obstfeld, International Monetary Fund, Jens Südekum, Heinrich Heine University and Guntram Wolff, Bruegel. Chair: Jens Ulbrich, Deutsche Bundesbank.

Session 2: "Fiscal policy: a medium-term view" with Servaas Deroose, European Commission, Lars Feld, German Council of Economic Experts, Daniel Gros, Centre for European Policy Studies and Ludger Schuknecht, Federal Ministry of Finance. Chair: Rolf Strauch, European Stability Mechanism.

Session 1: "Wages and inflation in Germany" with Peter Bofinger, German Council of Economic Experts, Michael Hüther, German Economic Institute (IW), Stephan Kohns, Deutsche Bundesbank and Lucrezia Reichlin, London Business School. Chair: Poul Thomsen, International Monetary Fund