At this year’s European Banking Congress in Frankfurt am Main, Bundesbank President Joachim Nagel issued an emphatic plea for reforms for Europe’s future. Against the backdrop of mounting geopolitical tensions, a challenging global trade environment and demographic change, Mr Nagel urged for a clear European strategy to safeguard productivity and welfare over the long term.

Germany’s current account recorded a surplus of €17.1 billion in January 2026, slightly down on the previous month’s level. Although the surplus in the goods account increased, the surplus in invisible current transactions, which comprise services as well as primary and secondary income, declined slightly more sharply.