The decision to apply these standards was based on their design and successful implementation in various areas, including logistics, making them a feasible, secure and future-proof investment for all participating parties.

The same methodology as the real effective exchange rates of the euro is used to calculate price competitiveness indicators for individual euro area countries. 

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.

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.

In an interview with FOCUS online, Bundesbank Executive Board member Burkhard Balz explains why the digital euro is necessary and the challenges involved. Our objective as Eurosystem central banks is to launch a pilot operation in mid-2027. As before, we still expect the digital euro to go live in 2029, Mr Balz said.

Monthly turnover data are available for industry and the retail trade sector. Quarterly time series are published for the services sector. The results for the retail trade are also included in the calculation of private consumption.

Statutory basis, implementation provisions, Bundesbank notices and circulars