Germany: 2008 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Germany
IMF Staff Country Reports, January 21, 2009
Source details
- Canonical URL
- Germany: 2008 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Germany
Other formats
Bibliographic details
- Published: January 21, 2009
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451810561.002
Executive summary
- Financial market turbulence has exposed vulnerabilities in the German financial system.
- German consumers’ conservatism under the current uncertain conditions will amplify the export slowdown.
- Investment decisions are likely to be postponed.
- Executive Directors welcomed the German authorities’ continuing priority to maintain financial stability and stabilize the real economy.
- Directors noted that the global financial crisis has highlighted important vulnerabilities of the German financial system, which could be intensified by the economic slowdown in Germany.
Major findings and risks
- Financial market turbulence revealed vulnerabilities in the German financial system.
- Consumer conservatism is expected to amplify the export slowdown.
- Investment postponements are likely given uncertain conditions.
- The economic slowdown in Germany could intensify vulnerabilities already highlighted by the global financial crisis.
Policy emphasis and authorities’ actions
- Continuing priority to maintain financial stability.
- Measures to stabilize the real economy were welcomed by Executive Directors.
Publication metadata and identifiers
- Publication title: Germany: 2008 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Germany
- Date: January 21, 2009
- Pages: 65
- Volume: 2009
- Issue: 015
- Series: Country Report No. 2009/015
- DOI: https://doi.org/10.5089/9781451810561.002
- Stock No: 1DEUEA2009001
- ISBN: 9781451810561
- ISSN: 1934-7685
Subjects
- Banking
- Commercial banks
- Cooperative banks
- Credit
- Deposit insurance
- Financial institutions
- Fiscal policy
- Loans
- Money
- Public debt
Keywords
- bank bonds
- CDS spread
- Commercial banks
- Commerzbank
- Cooperative banks
- CR
- Credit
- deficit rule
- economic policy
- Europe
- financial market stress
- GDP
- Global
- government
- ISCR
- liquidity rollover requirement
- Loans
- slowdown
International Monetary Fund. Germany: 2008 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Germany, IMF Staff Country Reports 2009, 015 (2009), January 21, 2009.
Content in this bundle
- _cr0915 — Executive Summary and Key Findings