Bureaucracy costs for firms in Germany have risen significantly in recent years. A new Bundesbank analysis quantifies the rise in bureaucracy costs. On average, they increased between 2022 and 2024 from around 5% to around 7% of annual turnover. Bureaucracy is placing a particularly heavy burden on smaller enterprises, according to the Bundesbank’s latest Monthly Report.

Today, the ECB presented the shortlisted design proposals for the next series of euro banknotes. It also launched an online public survey that will allow people across Europe to provide feedback on the design proposals. The proposals are based on two different themes: “European culture” and “Rivers and birds”.

The ECB and 19 Eurosystem national central banks are set to test the functionalities of the digital euro in a pilot exercise. 36 payment service providers will work with selected retailers and Eurosystem staff to assess the reliability and user experience of the digital euro. This also includes five German payment service providers.

In an interview with the Slovenian newspaper Delo, Bundesbank President Joachim Nagel expresses optimism about Germany's economic future and discusses current monetary policy challenges and the digital euro.