The €500 note is to be abolished, and ceilings on cash payments are being discussed - and yet coins and notes remain Germany's favourite medium of payment. These were some of the topics discussed by constitutional scholars and representatives of banks, the retail trade, consumer protection and the Bundesbank, among other parties, at the Bundesbank's third cash symposium.

Despite the impact of the coronavirus pandemic, euro area enterprises and households have not seen their debt situation deteriorate significantly. This is the conclusion reached by Bundesbank experts after examining developments in greater detail. “The expected normalisation of monetary policy will probably not unduly exacerbate the debt situation of non-financial corporations and households,” they also note in the current edition of the Bank’s Monthly Report

Germany’s current account posted a surplus of €17.6 billion in July 2021, down €5.0 billion on the previous month’s level. Although the surplus in the goods account rose, the surplus in invisible current transactions, which comprise primary and secondary income as well as services, declined significantly.

In July, the surplus in the goods account increased by €1.1 billion on the month to €17.5 billion, with imports of goods contracting more sharply than exports.