Nagel: Germany must put effort into resolving economic issues - Breaking The News

Nagel: Germany must put effort into resolving economic issues

15 September

1 min read

EPA-EFE/KIYOSHI OTA / POOL

European Central Bank (ECB) Governing Council member and Bundesbank President Joachim Nagel underscored on Sunday that German authorities "have to make an effort to get the economic problems that we have, the structural problems, under control."

Speaking at the Bundesbank's open day in Frankfurt, Nagel mentioned that the country's economic development is likely to be at 0% at the end of 2024, "maybe a bit higher, maybe a bit lower."

He further underlined that "quick or easy solutions" to the present challenges don't exist. Previously, the latest data from the German Federal Statistical Office Destatis showed the gross domestic product (GDP) in the country contracting in the second trimester.

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