On 24 and 25 November, the Bundesbank held its fifth Euro20+ event in Frankfurt am Main, inviting young people between the ages of 18 and 30 to discuss key economic policy and social issues with ECB President Christine Lagarde and Bundesbank President Joachim Nagel, amongst other guests.
ECB selects potential themes for future euro banknotes
The ECB Governing Council has selected “European culture” and “Rivers and birds” as potential themes for future euro banknotes. This decision was influenced by a wide-ranging survey: all Europeans had the opportunity to vote on potential themes for the new euro banknotes in the summer of this year. A decision on the final design of the new banknotes is expected in 2026.
Bundesbank: The financial system has coped well with the interest rate reversal so far
The current good earnings situation is enabling institutions to further strengthen their capital base and thus their resilience to adverse developments,said Claudia Buch, Vice-President of the Deutsche Bundesbank, at the presentation of the 2023 Financial Stability Review. Even in adverse scenarios, financial institutions should have sufficient levels of capital and liquidity to be able to absorb shocks on their own. Resilience, noted Vice-President Buch, would also require investment in IT infrastructure in order to be equipped to deal with cyber risks.
Bundesbank not expecting slight economic recovery until beginning of 2024
The German economy is set to recover only arduously from the period of weakness that has persisted since the outbreak of Russia’s war against Ukraine, write the Bundesbank’s experts in the Monthly Report. The industrial sector is still up against difficult conditions, and households’ mood for spending remained subdued in the third quarter. The experts do not expect economic output to see slight growth again until the first quarter of 2024.