The Monetary Authority of Singapore (MAS) and the Deutsche Bundesbank today signed a Memorandum of Understanding (MoU) regarding collaboration on cross-border digital asset settlement.

Germany’s current account recorded a surplus of €16.1 billion in December 2025, up €1.9 billion on the previous month’s level. Although the surplus in the goods account decreased, the surplus in invisible current transactions, which comprise services as well as primary and secondary income, increased more strongly.

The world order is shifting with unprecedented force – and not just since this year’s World Economic Forum in Davos. For the European Union, which has developed a number of military, digital and economic dependencies, there is a great deal at stake.

on the topic of Corporate financial statements

Germany’s current account recorded a surplus of €15.1 billion in November 2025, up €0.3 billion on the previous month’s level. Although the surplus in the goods account decreased, the swing to a surplus in invisible current transactions, which comprise services as well as primary and secondary income, was slightly stronger.

The German economy followed a slight upward trend towards the end of 2025, the current Monthly Report states. Industry is expected to have picked up again, although exports probably saw another decline, partly owing to weak exports to the United States. Private consumption is likely to have contributed to the increase in gross domestic product, thanks to significantly higher wages. Inflation dropped significantly to 2.0 % in December.

In a piece for the Financial Times, Executive Board member Michael Theurer has addressed the issue of the sovereign-bank nexus. This close link between banks and their home-country sovereign debt represents a significant threat to financial stability in the euro area. Breaking this cycle is crucial to safeguarding the stability of the euro area financial system, Theurer emphasises.