According to Bundesbank President Jens Weidmann, the German economy has probably moved past the trough of the coronavirus crisis.

The Eurosystem's emergency purchase programe (PEPP) should be temporary in nature and clearly linked to the crisis.

President Jens Weidmann pointed out that the experts were forecasting only a slow recovery when measured against the sudden slump experienced: “Economic activity is expected to return to its pre-crisis level only towards the end of 2022,” he noted. Nevertheless, he is not anticipating any major long-term harm for the economy’s potential output, albeit based on the assumption that a medical solution to combat the pandemic will be available in the middle of next year.  

President of the Deutsche Bundesbank 1 May 2011 - 31 Dec 2021

Covid-19 und die Auswirkungen auf die Banken in Deutschland – über dieses Thema haben Vertreter der Kreditwirtschaft, Politik, Wissenschaft und Bankenaufsicht am 5. Mai 2020 diskutiert.

Video clips without commentary on the Bundesbank, gold reserves, cash and the ECB. This footage is also available in high definition.

Bundesbank President Jens Weidmann will lay down his office for personal reasons at the end of the year. “I have come to the conclusion that, after more than ten years, now is a good time to embark upon a new chapter – for the Bundesbank, but also for me personally,” Mr Weidmann explained. He said he owed thanks to his colleagues on the Governing Council of the ECB under the leadership of Christine Lagarde for the open and constructive atmosphere in the - at times - difficult discussions conducted over the past years.

Federal President of Germany Frank-Walter Steinmeier has appointed Jens Weidmann President of the Bundesbank for another eight years, with effect from 1 May. At Schloss Bellevue in Berlin, the Federal President presented Mr Weidmann with the certificate of appointment for his second term of office.

Bundesbank President Jens Weidmann feels that the introduction of central bank digital currency (CBDC) needs careful consideration. The various risks suggest that a prudent design and cautious approach would be essential, he said at the Bundesbank’s virtual autumn conference. CBDC is not necessarily needed to provide the general public with quick, secure and cheap payment methods.