See Batini, N., di Serio, M., Fragetta, M., Melina, G. and Waldron, A., (2021), “Building Back Better: How Big Are Green Spending Multipliers?”, Working Paper No. 2021/087, March 2021. 3 Cimadomo, J., Hauptmeier, S., Palazzo, A.A. and Popov, A. (2018), “ Risk sharing in the euro area” , Economic  Bulletin, Issue 3, ECB.
The Bundesbank has now had an office in Tokyo for 25 years. Japan is one of the largest economies in the world. Germany and Japan are closely connected. Most importantly, the investment of foreign reserves in Japan has forged a strong link between the Bundesbank and the Bank of Japan.