This report provides an assessment of fiscal transparency in Germany. The assessment has two parts. The first is a description of practices, prepared by the IMF staff on the basis of discussions with the authorities, their comprehensive responses to the fiscal transparency questionnaire, and...

This 2010 Article IV Consultation highlights that the German economy is regaining the ground lost in the crisis. Policy support, restocking, and an uptick in global demand have lifted the economy from the recession. The authorities used the available fiscal space to implement countercyclical...

Eurex has a sound, transparent, and enforceable legal basis to address the legal risks related to its activities. Eurex is regulated and supervised as a bank. Its clearing activities are governed by a consistent and solid set of laws, regulations, rules, and instructions. Eurex has a...

Insurance regulation and supervision is of a high standard, and most of the enhancements suggested have been put in place. Further enhancements will be required, in the context of the forthcoming introduction of Solvency II requirements, in such areas as the frequency of onsite inspections, the...

This Selected Issues paper and Statistical Appendix analyzes Germany’s past fiscal policy behavior and assesses the likely adjustments that would be necessary to bring future fiscal policy behavior in line with European Monetary Union and the Stability and Growth Pact requirements. Using...

Germany has a comprehensive legislative and institutional framework for the effective supervision of the securities markets. The overall level of compliance with the IOSCO principles is high. There are significant industry concerns about the implementation costs resulting from a rapidly changing...

The design of the German banking supervision framework is structurally sound, with a robust legislative and operational framework that largely complies with the Basel Core Principles for effective banking supervision (BCP). Various improvements to the German supervisory framework have been...

This 1999 Article IV Consultation highlights that the monetary conditions in Germany have eased significantly since late 1998, reflecting both policy actions and exchange rate developments. Short-term interest rates were reduced by the Bundesbank to 3 percent in December 1998 and, in the new...

This Selected Issues paper and Statistical Appendix analyzes the link between Germany’s economic performance and institutions, taking a long-term perspective and focusing on the labor market. The thesis of the paper is that Germany’s institutional arrangements worked exceptionally well...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country