We could be on the verge of a global economic turning point, Bundesbank President Joachim Nagel said in an interview with the weekly newspaper “Die Zeit”. In this situation, we need more Europe, not less. Trump’s proposed trade tariffs could prove very painful for Germany. Should they be implemented, he said, we might even see negative economic growth next year. Mr Nagel considers European monetary policy to be on the right track.

Informationen zu bereits durchgeführten Trials und Experimenten mit der Trigger Solution im Rahmen der Eurosystem Exploratory Work zur Erprobung neuer Technologien zur Abwicklung DLT-basierter Finanzmarkttransaktionen in Zentralbankgeld.

Speaking at the 34th European Banking Congress in Frankfurt am Main, Bundesbank President Joachim Nagel stressed the need for a united Europe in order to meet the many challenges it faces. In a joint appeal with François Villeroy de Galhau, Governor of the Banque de France, the pair highlighted the importance of strengthening Franco-German dialogue as a tool for European progress.

Germany’s current account recorded a surplus of €8.9 billion in May 2023, down €13.4 billion on the previous month’s level. This was because invisible current transactions, which comprise services as well as primary and secondary income, switched to a deficit. The surplus in the goods account remained virtually unchanged.

German economic output rose unexpectedly in the third quarter of 2024, according to the Monthly Report. However, none of the key demand components currently give any cause to expect a marked recovery in the short term. “The industrial sector is faced with a difficult environment and is under high pressure to adapt,” the economists write. In addition, the labour market is becoming increasingly gloomy owing to the protracted bout of economic weakness.