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A sovereign Europe is also important for our finances Guest contribution in the Frankfurter Allgemeine Zeitung
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.
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Central Bank Policy in an Evolving Cash Landscape Keynote speech at the Banknote Conference
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The Bundesbank’s forecast for Germany: Economic recovery slowly getting started US tariffs initially weigh on economic growth; fiscal policy provides impetus from 2026
The recovery of the German economy is being delayed by uncertainty surrounding international trade policy. Only gradually will economic activity be boosted by fiscal measures. The German economy will continue to tread water in the current year.
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German balance of payments in November 2025
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.
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Recent publications
Selected papers by Bundesbank researchers accepted for publication or recently published.
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IFS-Base – Data Report 2026-12 – Metadata Version 9-0 Michaela Igel, Rene Keifenheim, Miriam Krüger, Ece Yalcin-Roder
160 KB, PDF
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