ECB’s Nagel: Bundesbank to Adress Digitalisation and Demographic Challenges

10 July 2024

By Isabel Teles – FRANKFURT (Econostream) – European Central Bank Governing Council member Joachim Nagel on Wednesday said that digitalisation and demographics would shape the future of the German Bundesbank.

Speaking at a union congress in Fulda, Germany, Nagel, who heads the Bundesbank said, ‘[D]igitisation is making strong progress, in the financial system as well as in everyday life. As a bank, we also want to take advantage of the opportunities that arise.’

In the next ten years, more than 3,500 Bundesbank employees would retire due to age, he said, and the institution should be prepared to attract new people in a context of tight labour markets.

‘As the Bundesbank, we have always received very good marks as an employer from our employees. But it will also be a challenge for us to attract enough new employees.’