Bundesbank President Jens Weidmann has called for further reform steps in Europe. "Much has been done – in the member states as well as at the European level," Weidmann said in Athens. Despite this progress, there is still need for further action, he said.

Bundesbank President Jens Weidmann expects Brexit to place a strain on Germany's economy. It is in the interests of both parties, he says, for the EU and the United Kingdom to quickly enter into level-headed negotiations on their future relationship.

According to figures from the Federal Statistical Office, in the first quarter of 2017 the German economy grew by 0.6% compared to the fourth quarter of 2016. Based on provisional calculations, positive contributions came from both domestic and foreign demand.

Robust economic growth in Germany is set to continue, the Bundesbank’s experts write in the current Monthly Report, as indicated by the favourable order situation in industry and construction as well as the positive sentiment in the German economy and among households.

Bundesbank President Jens Weidmann has spoken out in favour of eliminating the red tape involved in setting up a business. At a speech in Düsseldorf, Mr Weidmann pointed out that “reforms to make it easier for start-ups to enter the market would also enhance competition and spur innovative power.”