ContextSpeech at the German-British Chamber of Industry and Commerce in London; the Bundesbank is Germany's central bank within the euro system and watches trade in a changing world.
Why it mattersNagel responds to the label of Germany as the sick man of Europe.
Problems raised
Germany is described as the sick man of Europe.
Trade faces growing fragmentation.
Inflation remains above 2%.
Solutions proposed
Keep open trade relations, including with the UK.
Undertake structural reforms to strengthen growth.
Maintain high rates until inflation returns to 2%.
