The better society is informed about financial topics, the better we, as central banks, can explain our monetary policy decisions, Bundesbank President Joachim Nagel said at the opening of the Bundesbank’s euro pavilion. This converted event space sited at the Bundesbank’s Central Office in the heart of Frankfurt now creates additional opportunities for the Bank to engage and interact with interested members of the general public. Going forward, the euro pavilion will host events open to the general public on current topics and the Bundesbank’s range of tasks.

Financial literacy – a key concern for the Bundesbank 

Financial literacy is a key concern not just for me, but for the institution as a whole, Mr Nagel said in a panel discussion at the opening ceremony. For him personally, it was the birth of his son which prompted him to begin looking seriously at his own financial situation: The topic of financial literacy became all the more important for me because I was taking responsibility for someone else.”

Financial education played a key role for central banks as well, Mr Nagel added. Financial knowledge creates trust in the work of central banks and helps them discharge their mandate of ensuring price stability.

In the subsequent Q&A session, the Bundesbank President exchanged views with members of the public and representatives from the business world, academia and civic society on the different objectives that financial literacy was expected to achieve, including in terms of contextualising fiscal policy decisions. Another talking point concerned people’s own experiences with this topic, such as how much exposure they had had to the subject of financial literacy at school. The role of sustainability in financial literacy was another topic of debate.

Dialogue centred around current topics

How safe is our money? What role do Europe and central banks play in a changing world? These are just some of the topics that the Bundesbank would like to discuss with interested members of the general public in its euro pavilion. 

The euro pavilion is our new shopfront to the city. Join us here to discuss current topics, stimulate debate and illuminate economic relationships, Ingrid Herden, head of the Bundesbank’s Directorate General Communications, told guests at the opening ceremony. The euro pavilion is an attractive addition to the existing range of outreach activities used by the Bundesbank and its regional offices, she added.

Europe and digitalisation 

Forthcoming events at this new location will include European perspectives on economic and societal issues. During Europe Week (5 to 9 May), for example, the Bundesbank is inviting visitors to the euro pavilion to share their views on European money and the European community. On Germany’s national Digital Day in June, meanwhile, the euro pavilion is hosting an event on how digitalisation is transforming our money and the Bundesbank as an institution.

Information on forthcoming events organised by the Bundesbank and its regional offices in Frankfurt and across Germany can be found in the calendar.