In its 2020 "Recommendation on financial literacy", the OECD recommends a national strategy for this.2 The "Alliance for Economic Education" in Germany is also calling for German policymakers to adopt a national economic education strategy.3 The Bundesbank is open to the idea of launching a national strategy for economic education or financial literacy. However, this is something that policymakers have to decide upon.
Coinciding with the declining commodity prices in 2008 was an increase in total government spending in excess of total revenue. Experience of the 1990s show that when there is excessive Government spending there can be downward pressure on the exchange rate and high inflation. And monetary policy is burdened with the task of restoring macroeconomic stability.