The steep slide in oil prices and the euro's depreciation stimulated economic growth in Germany towards the end of 2014. Gross domestic product (GDP) rose by 0.7% in real terms in the fourth quarter of 2014 compared with the third quarter. The Bundesbank writes in its latest Monthly Report that the economic upturn is set to continue in the current year.

The President of the Bundesbank, Jens Weidmann, believes that measures taken by central banks cannot take the place of necessary structural reforms. During a speech in London, he welcomed the assurances of some European heads of government that they do not intend to ease up in their efforts, but also expressed a certain degree of scepticism.

According to Bundesbank President Jens Weidmann, short-term financial assistance can only buy Greece time. Speaking on the sidelines of the meeting of the G20 finance ministers and central bank governors in Istanbul, Weidmann said that Greece could only solve its problems in the long run by making its public finances solid and its economy more competitive.

The Bundesbank received its final payment from the insolvency proceedings concerning Lehman Brothers Bankhaus AG (LBB) in January 2015. This means that the original claim of around €8.5 billion plus accrued costs and interest receivable of roughly €0.8 billion from the years following the insolvency have been settled in full.

The extensive package of measures taken to combat the sovereign debt crisis have led to risk being redistributed among the member states of the euro area, Bundesbank President Jens Weidmann told a conference in Venice. This, he said, undermines the necessary foundation for a stable and prosperous monetary union.

Bundesbank Executive Board member Andreas Dombret currently sees no signs of a real estate price bubble in Germany. However, high liquidity levels and low interest rates make a bubble more likely, warned Dombret at a speech in Berlin.

The number of counterfeits recorded by the Bundesbank has risen by 63% on the year. Bundesbank Executive Board member Carl-Ludwig Thiele says that the incidence of counterfeits in Germany is still low on the whole, however. The €50 note is a particular favourite among counterfeiters.

Bundesbank President Jens Weidmann is critical of the ECB Governing Council's recent decision to purchase government bonds. He does not consider such a programme necessary at present, and sees a risk that the purchases might reduce the pressure on crisis countries to reform. He said that the specific structure would mitigate at least some of the problems that government bond purchases entail.

A ceremony in Osnabrück marked the opening of an exhibition entitled "The new face of the euro". New banknotes of the second series, also known as the "Europa" series, will be amongst those taking centre stage in the Cultural History Museum until 3 May.

Bundesbank President Jens Weidmann has warned that the budgetary rules in the euro-area countries should not be interpreted too flexibly. Speaking at an event in Biberach, Mr Weidmann said that sound budgets were a key prerequisite for the stability of the single currency, for which every member state was responsible.