It is ten years since the US investment bank Lehman Brothers collapsed, marking the beginning of the biggest financial crisis since the Second World War. In an op-ed for the Frankfurter Allgemeine Zeitung, German Finance Minister Olaf Scholz outlines the measures that were taken at the time to stabilise the financial markets and the lessons that can be drawn from the crisis.
Germany’s current account surplus has been garnering criticism for years. Taking on this criticism coming from home and abroad the Ministry of Finance and the Ministry of Economic Affairs published a joint position paper that explains the reasons behind Germany’s current account surplus and outlines the fiscal and economic policy options.
On the margins of this year's Annual Meetings of the IMF and World Bank Group in Washington, D.C. on 12/13 October 2017 the G7 finance ministers and central bank governors adopted the report on the G7 Fundamental Elements for Effective Assessment for Cybersecurity in the Financial Sector.
The International Monetary Fund (IMF) regularly analyses and evaluates the economic and fiscal policies of its member states based on Article IV of the IMF’s Articles of Agreement. This year’s Article IV consultation with Germany was carried out from 4 to 15 May 2017.The IMF’s provisional conclusions were presented to the press in Berlin on 15 May 2017.
The G7 countries attach great importance to cyber security in the financial sector. Therefore, minimum standards for cyber security in the financial services sector should be designed to protect consumers, institutions, data and infrastructure.
Preliminary findings from a report commissioned by the German Finance Ministry confirm: climate risks have the potential to affect financial markets. Making an orderly transition to climate-friendly investments would help to maintain the efficiency and stability of Germany’s financial markets. Conversely, abrupt carbon divestment could jeopardise the stability of financial markets.