• Statements

Statements by the German Savings Banks

The German Savings Bank Association speaks up for savers in Germany and in particular for customers of the Savings Banks Finance Group. We care about the economic development in Germany and its regions, in Europe and worldwide. Our experts regularly contribute to current economic, fiscal, and political discussions. Read our positions below.

Chief Economists

Inflatio and Monetary Policy (25.03.2025) 275,34KB Putting Climate Policy to the Test: Current Status and Outlook 525,17KB Stabilise the real-estate market – bolster construction activity (11.06.2024) 340,50KB Inflation and Monetary Policy (03.04.2024) 345,78KB Economy in Transition (05.10.2023) 1,02MB German Banking Market: Ready to finance the future (14.06.2023) 501,88KB Fresh Challenges for Monetary Policy (04.04.2023) 359,32KB Fiscal policy in challenging times (07.02.2023) 372,41KB Green Transformation in Challenging Times (20.11.2022) 411,33KB Banking Market Germany: Regulation with a Sense of Proportion! (18.05.2022) 257,34KB Monetary policy: Preventing entrenched Inflation! (05.04.2022) 554,80KB Debt in Europe: Challenges and Policy Options (07.12.2021) 485,26KB Cryptoassets - Weighing the opportunities and risks (05.11.2021) 432,96KB Strengthening private and public investment - overcoming the crisis sustainably (16.09.2021) 920,15KB The inflation spike - Reflex or Reflation? (05.07.2021) 433,32KB Banking regulation should support the coming upswing (05.05.2021) 611,79KB Public debt out of control both in and after the pandemic? (27.04.2021) 769,54KB The RCEP – A challenge for Europe too (23.02.2021) 943,85KB Light at the end of the tunnel!? The pandemic economy (26.01.2021) 351,34KB Brexit - is there an end in sight? (30.11.2020) 479,84KB The second Covid wave is rolling: Accompany structural change with a sense of proportion! (17.11.2020) 251,99KB Trump vs. Biden - A fact check ahead of the election (02.11.2020) 550,86KB German Banking Market: Robust in the Corona Crisis (01.10.2020) 551,00KB Monetary Policy: Crisis Measures are not Permanent Instruments (29.09.2020) 444,36KB Measuring inflation in the shadow of the pandemic (29.09.2020) 620,02KB Corona: Linking stability and sustainability! (17.06.2020) 1,16MB More transparency - Essential consequence of the judgment of the BVerfG (25..05.2020) 536,51KB The Corona Shock: Economic policy requirement (18.03.2020) 627,57KB Digital central bank currency: Curse or blessing? (19.02.2020) 181,91KB Review of the monetary policy strategy: maintaining objectives and increasing flexibility (06.02.2020) 239,08KB

Economic Positions

Statement Financial Press Conference by Helmut Schleweis 198,43KB Housing market in Germany: Boom without end? (May 2021) 657,63KB The housing market in Germany: Corona and the consequences September 2020 568,27KB Housing Market Germany: Market Developments and Macroprudential Measures (June 2019) 373,78KB Sustainable finance: Helping to mitigate climate change on a long-term basis (May 2019) 161,45KB A Social Agenda for Germany (March 2019) 605,71KB TARGET imbalances: The multi-billion euro bombshell (August 2018) 265,27KB Completing the European Monetary Union Properly (May 2017) 565,88KB

Deka-S Financial Climate

Deka-S-Financial Climate 01-2025: hopeful picture with blemishes 365,91KB Deka-S-Financial Climate 04-2024: standstill in Germany 441,55KB Deka-S Financial Climate 02-2024:Economic recovery at a snail's pace 340,61KB Deka-S Financial Climate 01-2024: financial markets up, economy down 100,55KB Deka-S Financial Climate 04-2023: Positive capital markets despite economic downturn 617,12KB

Economic Update

2025 – A Year of Transition (18.02.2025) 440,32KB Germany remains mired in stagnation (05.11.2024) 449,18KB Cyclical Confidence Returns (27.06.2024) 917,04KB A bumpy start, but hopes of more tailwind over the course of the year (14.03.2024) 441,46KB Still on a low glide path (13.12.2023) 2,36MB Starting the German Growth Engine Again (04.10.23) 1,41MB After the big shocks and the small winter recession: Where is new momentum coming from? (20.06.2023) 610,07KB Stunted growth coupled with somewhat lower inflation (23.03.2023) 790,22KB The announced recession is taking its time to arrive (12.12.2022) 690,25KB Stagflation is about the best we can hope for at the moment (07.09.2022) 791,94KB Shortages continue to keep prices on their toes (07.06.2022) 0,98MB The war slows down the recovery 688,39KB Frozen recovery (14.12.2021) 598,88KB A recovery slowed by bottlenecks (07.09.2021) 671,60KB Delayed, but not off the table (02.06.2021) 825,09KB Services take off while industry flies on (01.03.2021) 405,76KB European economy on a pandemic rollercoaster (27.11.2020) 446,04KB Germany is in “partial recovery” mode (23.09.2020) 604,49KB Easing measures in Europe - the virus still lurks (16.06.2020) 497,69KB Economic Update: Détente policy in the trade war? (10.12.2019) 272,41KB Stagnation, accompanied by industrial recession 03.09.2019) 271,33KB Dampers at all turns 11.03.2019) 233,27KB The brake lights are on (11.12.2018) 267,51KB A bumpy start, but hopes of more tailwind over the course of the year (14.03.2024) 441,46KB Emerging Market Foreign-Currency Debt: A Risk to the Global Economy? (20.09.2018) 508,12KB

Newsletters

Fighting Covid-19 worldwide - facing the future with full capacity to act (23.06.2021) 285,39KB Overcoming the third wave - Vaccinate, vaccinate, vaccinate! (16.04.2021) 326,06KB The second wave of Covid-19 … “emerging sustainably from the crisis” (16.02.2021) 303,51KB The second corona wave: Endure the lockdown – prevent a third wave! (08.01.2021) 564,15KB The second corona wave... The second hard lockdoThe second corona wave... The second hard lockdown requires planning security (16.12.2020)wn requires planning security 246,79KB The second Corona wave is rolling: Restrict contacts now while actively shaping the future (27.11.2020) 260,15KB Second wave of Covid-19: Economic and monetary policymakers need to act circumspectly! (30.10.2020) 260,22KB On a secure foundation innovatively out of the crisis (29.05.2020) 612,80KB Corona: Monetary policy in the face of the virus (13.05.2020) 196,15KB Covid crisis: Caution remains the order of the day (28.04.2020) 341,75KB Corona: Stabilisation Bonds for Europe (15.04.2020) 448,82KB Corona: Global pandemic and European solidarity (01.04.2020) 451,24KB Corona: After the pandemic, catch-up effects could further accelerate growth (26.03.2020) 472,97KB
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Further reading