Bundesbank President Jens Weidmann has called for further reform steps in Europe. "Much has been done – in the member states as well as at the European level," Weidmann said in Athens. Despite this progress, there is still need for further action, he said.

According to the Bundesbank, the German economy maintained its recent spell of fairly strong growth during the summer months. Writing in the September edition of the Monthly Report, the Bank's economists note that the pick-up in industrial activity is still taking some time to materialise, however.