Joachim Wuermeling: How stable is Europe? Taking stock of the latest developments in politics and the financial markets Speech by Prof Joachim Wuermeling, Member of the Executive Board of the Deutsche Bundesbank, at the American Council on Germany, New York City , 4 May 2017. * * *  1.
With respect to domestic demand, public investment is projected to follow a declining trend and private consumption is likely to remain weak for some time due to the severe employment and income situation.