The head of the German Federal Bank (Bundesbank) Joachim Nagel considers it "unacceptable" calls on Russia for cooperation amid problems in the German economy. The words of the manager of the credit institution were reported by ag. Bloomberg.
During a speech on the sidelines of the autumn session of the International Monetary Fund and the World Bank, Nagel urged the audience to “not forget“ that the economic decline in Germany began in the spring of 2022. The head of the bank linked the economic failures to the beginning of the conflict in Ukraine.
„I go crazy when, in the form of the G20, I have to listen to a Russian colleague who tells me how important international cooperation is. This is simply unacceptable”, said the head of the Bundesbank.
According to him, Germany must now solve the problems in order to correct the situation in the economy. “We know that there are structural problems in the economy of Europe and therefore we need to find intelligent ways, and there are, to overcome these structural difficulties,”, he added.
In September, Bundesbank experts said that the German economy is still experiencing difficulties and there is no talk of a quick end to the economic decline. The bank predicts that the German economy will stagnate in the third quarter.
On October 24, a meeting of the heads and representatives of the ministries of finance and central banks of the G20 was held in Washington. Russian Deputy Finance Minister Ivan Chebeskov said that during the event, the Russian Federation raised the issue of the “exponentially growing US national debt”.