Financial markets Spending reviews in the federal budget
Since 2015, the German government has included annual spending reviews in its top-down procedure for preparing the federal budget. Spending reviews analyse revenues and expenditures in selected policy areas, with the aim of giving the budget preparation procedure a stronger focus on content and enhancing the outcome orientation of the allocated budget funds. They help to improve the structure of …
financial_markets Launch of the Zukunftsfonds
The German federal government is providing an additional €10 billion for an equity fund for technologies of the future (Zukunftsfonds, or “Future Fund”). The fund will primarily benefit start-ups in the growth phase with high capital requirements. Today, Federal Minister of Finance Olaf Scholz and Federal Minister for Economic Affairs Peter Altmaier have tasked KfW with the execution and …
Financial markets More “bite” for the Financial Supervisory Authority
German Finance Minister Olaf Scholz wants to reform the Federal Financial Supervisory Authority (BaFin) fundamentally to make it more flexible and effective. In particular, BaFin will be given the authority to focus more heavily on preventive action and investigate suspicious cases more swiftly and efficiently as part of financial reporting enforcement.
EU Council Presidency Olaf Scholz: Bundesbank conference “Future of Payments in Europe”
Views on Digital Payments from Germany’s EU Council Presidency.
financial_markets Combating financial reporting fraud and strengthening controls over financial markets
Listed companies need to be more stringently controlled. On 7 October, the Federal Ministry of Finance presented the federal cabinet with an action plan to combat financial reporting fraud and to strengthen controls over capital and financial markets, which it drafted in cooperation with the Federal Ministry of Justice and Consumer Protection. Draft legislation will be presented shortly with the …
EU Council Presidency European Sustainable Finance Summit
As the European Sustainable Finance Summit gets underway, German Finance Minister Olaf Scholz and Environment Minister Svenja Schulze are calling on European companies to invest more in sustainable economic activities. The first survey, published today, on applying the EU taxonomy shows that just 2% of companies’ activities by revenue meet the taxonomy’s level of ambition for climate action and …
In his virtual keynote address at the opening of the 2020 Frankfurt Finance Summit, Finance Minister Olaf Scholz speaks about Germany's effective crisis support programme & emphasises the importance of a strong European response to the coronavirus pandemic.
financial_markets Franco-German Fiscal Policy Seminar 2020
For the first time, the Fiscal Policy Seminar will take place on 8-9 October 2020 as a joint Franco-German event. We are looking for research papers that present new and innovative ideas. This year’s topic: “Economic lessons from the COVID-19 pandemic – first findings”. We are now accepting submissions. An independent jury will choose the best papers from the entries received. The selected …
financial_markets Sustainable finance
The COVID-19 pandemic and climate change highlight how important the United Nations’ 17 Sustainable Development Goals (SDGs) are to economic growth and financial market stability. SDG 3 aims to ensure healthy lives for all, while SDG 13 focuses on climate action.
Financial markets Large-scale federal assistance to protect businesses and jobs
German government activates the Economic Stabilisation Fund