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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.
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Financial markets New measures to further enhance investor protection
The Federal Ministry of Finance and the Federal Ministry of Justice and Consumer Protection have agreed on a package of measures to enhance investor protection. The measures expand the scope of BaFin’s powers for the supervision of financial products and their distribution. Capital investments are now subject to even stricter requirements.
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Financial markets More “bite” for the Financial Supervisory Authority
Former 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.
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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, former Federal Minister of Finance Olaf Scholz and Federal Minister for Economic Affairs Peter Altmaier have tasked KfW with the execution and …
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Financial markets Key-issues paper on the regulatory treatment of electronic securities and crypto tokens
The Federal Ministry of Finance and the Federal Ministry of Justice and Consumer Protection have jointly published a key-issues paper discussing the possible introduction of electronic securities and the regulation of public offers of certain crypto tokens. The paper forms part of efforts to strengthen Germany’s role as one of the world’s leading digital technology and fintech locations.
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Financial markets Joint Statement on Libra
At the meeting of eurozone finance ministers in Helsinki on 13 September 2019, Germany and France issued a joint statement on the digital currency Libra. Former Federal Minister of Finance Olaf Scholz and his French counterpart Bruno Le Maire oppose Facebook’s digital currency. They consider that the Libra project fails to convince that risks will be properly addressed.
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Financial markets Joint initiative with the Netherlands and France on the Capital Markets Union
Former Federal Minister of Finance Olaf Scholz has teamed up with Wopke Hoekstra and Bruno Le Maire, the finance ministers of the Netherlands and France, to launch an initiative to advance the Capital Markets Union, a step that will durably strengthen the EU internal market. The three finance ministers want to set up a high-level group of experts that will formulate specific milestones this year …
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Financial markets Joint communiqué: The Capital Markets Union working group is taking shape
The high-level working group proposed jointly in May by Germany, the Netherlands and France is now taking shape. On 12 June 2019, the first members of the high-level working group were announced. The group’s analysis and recommendations – which will flow into the CMU roadmap – are to be delivered no later than 30 September 2019.
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Financial markets Isolate Russia economically, counteract the effects of its war of aggression against Ukraine
On 20 April 2022, the G7 finance ministers and central bank governors met for the second time under Germany’s G7 presidency. The meeting was held on the sidelines of the IMF spring meeting in Washington, D.C. During their talks, the G7 members focused on the state of the global economy in light of the war in Ukraine. Afterwards they published a joint statement.
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Financial markets International debt strategy and debt restructuring
Many emerging and developing countries have bilateral debt with the German government. One of the German Finance Ministry’s responsibilities is to ensure that these countries service their debt as agreed. If countries run into financial difficulties, it is often necessary to explore whether and how the debt can be restructured or even cancelled.