15.10.2025 

The Bundesbank’s latest Monthly Report shows that increasing uncertainty has a major impact on investor behaviour and capital market dynamics. When uncertainty rises unexpectedly, investors tend to disproportionately reduce their exposure to emerging markets. Outflows from investment funds in relation to holdings are around three times higher than those from advanced economies, according to the Bundesbank’s experts.

In 2024, Germany paid more to the European level than it received by around 0.4 % of its gross national income (€18 billion), as explained in the current edition of the Bundesbank’s Monthly Report. It was thus one of ten Member States that made net contributions to the EU budget and the NextGenerationEU (NGEU) off-budget entity. It was not among the frontrunners, however, as it received significantly more NGEU grants than it did in previous years. Once every year, the Bundesbank calculates the net contributions to the EU budget and NGEU. In addition, the Monthly Report examines the European Commission’s proposal for the next multiannual financial framework.

Merchants are not just participants in the digital euro project – they are its driving force, said Executive Board member Burkhard Balz during an event in Brussels. Representatives from politics, business and trade discussed the opportunities and challenges presented by a digital euro during the conference entitled The digital €uro: a game changer for European merchants.

Speaking at the Bundesbank’s third Financial Centre Conference, Bundesbank President Joachim Nagel said that Germany needed to pick up the pace of structural reform if it is to overcome its weak growth. According to First Deputy Governor Sabine Mauderer, there needs to be a capital market for all, whether people want to save for retirement or invest in German businesses. At the conference, decision-makers from the world of politics, business and finance discussed how Germany and Europe could finance their future.