Over the next month, football will be at the centre of attention all over the world. National football teams are promoting their own national identity. According to a German sports economist, there is a high correlation between a national football team’s performance and a country’s reputation. The teams are contributing significantly to the “branding of nations”.
The presentation of the Bundesbank’s Financial Stability Review has become a firm fixture in the calendar. And, looking around, I can see some familiar faces. And, today, I will also be raising issues with which you are familiar. For example, although the tensions in the financial system have eased since mid-2012, the side effects of the crisis policy are now coming into focus.