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The global economy needs institutions like the IMF Guest contribution by Joachim Nagel in the Börsen-Zeitung
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Trade challenges in a changing world Speech at the German-British Chamber of Industry & Commerce
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A stable euro in a strong Europe Karl Otto Pöhl Lecture to the Frankfurt Society for Trade, Industry and Science
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Zusammenfassung der geldpolitischen Sitzung des Rates der Europäischen Zentralbank am 18.-19. März 2026
357 KB, PDF
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German balance of payments in February 2025
The German current account recorded a surplus of €20.0 billion in February 2025, up €5.0 billion on the previous month’s level. The surplus in invisible current transactions, which comprise services as well as primary and secondary income, declined slightly. However, the surplus in the goods account rose even more strongly.
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National Cash Forum advocates binding statutory rounding rule for cash payments
By way of majority, the National Cash Forum advocates rounding up or down to the nearest 5 euro cent for cash payments in Germany. The Federal Ministry of Finance is called upon to advocate for, and press ahead with, a binding statutory rounding rule in Germany. The rounding rule should be applied across Europe as uniformly as possible.
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German balance of payments in January 2025
Germany’s current account recorded a surplus of €11.8 billion in January 2025, down €9.1 billion on the previous month’s level. This was attributable to a lower surplus in the goods account and especially in invisible current transactions, which comprises services as well as primary and secondary income.
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Reflections on the Eurosystem’s new operational framework Speech at the Konstanz Seminar on Monetary Theory and Monetary Policy