Germany has a unique banking system dominated by public and cooperative banks rather than large private banks. The top banks are Deutsche Bank and Commerzbank, but none are in the top 10 globally due to the large market share held by public savings banks and cooperative banks in Germany. Germany's financial system is decentralized and focused on serving local and regional needs through these public and cooperative banks rather than maximizing profits like large private international banks.
WHAT IS MADE IN GERMANY REALLY WORTH_LOVE ALUDOLove Aludo
Thinking business growth? Sustainable Development, or value for your money? Ever heard of Industry 4.0? What is their Management Style in Germany? Who are the Hidden Champions? German products are generally known for high quality, excellence, especially engineering precision, and with the increasing climate challenges, Germany is fast meeting milestones on its renewable and clean energy road map for the environment. But what goes into a German product? And what can your country or business learn from the German stereotype?
At the inception of 1989 barley anyone in Germany, both in the wes.docxjaggernaoma
At the inception of 1989 barley anyone in Germany, both in the west and east, had prophesied that the 40th anniversary of the GDR in the fall would furthermore be its last, that the Berlin Wall would promptly fade and that Germany, which remained divided into two states, would be United. No individual had thought that, as a result, the political constellations that had ordered post-War European politics elongated than forty years would cease. But everything changed; all at once history would start to just take off at that kind pace. (The fall of the Wall and German reunification)The expedition of the developments also caught spectators by shock. A brief ten months after the collapse of the Berlin Wall the negotiation of the ultimate settlement was acknowledged on September 12, 1990, this would cover the process for the reunification of Germany.
In Consequence Of the Fact, German Unity, which in legal terminologies was concluded on October 3, 1990 with the extension of five federal states "to the area of validity of the Basic Law of the Federal Republic of Germany," (Facts about Germany) triggered abundant shared satisfaction, buoyed by the assurance of being capable to shoulder the responsibilities of the unification process. What emerged though was what Bertolt Brecht once termed "the trudge across the flatlands." The hurdles many Germans possessed with their newly achieved sovereignty were the consequences; scarcely anyone had been expecting it, later at the rate in which it took off - no individual was used to.
The value of German Unity increased still faster despite its most skeptical evaluations had expected. The people in the east had to strengthen the social accountability of unity and, naturally, the people in the west had to shoulder the financial aspects
As the economic alliance move onward, elements that had been recognized but inadequately appreciated in advancement began to surface. There was widespread perplexity about property titles. More than 2 million applications on properties within the territory of the late Global Depository Receipt existed designated deadline of December 31, 1992. As more claimants emerged, with countless winning positions in the courts, potential investors were commonly alarmed and determined that investing may not be a intelligent move after all.
A Further barrier was that East German manufactured product price had been considerably high-priced. The exchange prices of East German marks to deutsche marks oftentimes retained high costs, as did the early pay trade-offs, which concluded in salaries being considerably above the productivity level. Western German firms discovered it simpler and more affordable to work with the eastern German markets by increasing production in western facilities.
The third predicament was the inadequate infrastructure also presented a predicament for the various possible investors. Telephone service was developed somewhat gradually; several investors also protested.
· Germany PESTLE · The Federal Republic of Germany consist.docxodiliagilby
· Germany PESTLE :
· The Federal Republic of Germany consists of 16 states covering 357,021 square kilometers. The population is 81.8 million inhabitants. Germany is among the leading political powers of Europe. In some fields, it is also deemed as the technological leader.
· Germany has the 4th largest economy in the world. It is the 2nd largest exporter and 3rd largest importer.
· POLITICAL FACTORS
· Germany is a democratic republic. The political system functions under a system called Grundgesetz which was published in the 1949 constitutional document. The Social Democratic Party and the Christian Democratic Union leads the political system since 1949.
· https://www.marketingtutor.net/pestle-analysis-of-germany/
a. A global corruption index: Germany scored 80 points out of 100 on the 2018 Corruption Perceptions Index reported by Transparency International. Corruption Index in Germany averaged 79.35 Points from 1995 until 2018, reaching an all time high of 82.70 Points in 1996 and a record low of 73 Points in 2002.
b. A human rights index: Human rights in Germany enjoy a high level of protection, both in theory and in practice, and are enshrined in the Grundgesetz.
ECONOMIC FACTORS
Germany is the 4th largest economy in the world. With nominal GDP forecasts for 2019 set to the tune of $4.2 trillion, the country looks set for robust economic growth. However, a GDP decline in late 2018, coupled with shaky industrial growth, has left a shadow on the economic horizon of the nation.
Germany boasts a low unemployment rate of 3.2%, which is arguably one of the lowest worldwide. One of the top exporters in the world, Germany has a mixed economy with a budgetary surplus. And although the recent refugee crisis has left the country shaken, but with a strong economic foundation, Germany looks set to remain an established economic power.
Germany has comparatively low raw materials. It only has potash and lignite in a significant amount. The power plants which burn lignite are among the main sources of electricity for Germans.
Popular global brands are BMW, Mercedes Benz, Adidas, Porsche, Audi, DHL, Volkswagen, T-Mobile, Lufthansa, Nivea, and SAP. Between the years 1991 and 2010, local firms took part in 301 acquisitions and 40 mergers. Most products are in engineering. Automobiles, metals, machinery and chemical goods are some items they are proud of. German cities like Berlin, Frankfurt and Hanover hold the largest annual international trade fairs.
https://www.marketingtutor.net/pestle-analysis-of-germany/
a. GNI per capita (as a proxy for income)
This page provides the latest reported value for - Germany Gross National Income - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Germany Gross National Income - actual data, historical chart and calendar of releases - was last updated on October of 2019.
Actual
Previous
Highest ...
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
WHAT IS MADE IN GERMANY REALLY WORTH_LOVE ALUDOLove Aludo
Thinking business growth? Sustainable Development, or value for your money? Ever heard of Industry 4.0? What is their Management Style in Germany? Who are the Hidden Champions? German products are generally known for high quality, excellence, especially engineering precision, and with the increasing climate challenges, Germany is fast meeting milestones on its renewable and clean energy road map for the environment. But what goes into a German product? And what can your country or business learn from the German stereotype?
At the inception of 1989 barley anyone in Germany, both in the wes.docxjaggernaoma
At the inception of 1989 barley anyone in Germany, both in the west and east, had prophesied that the 40th anniversary of the GDR in the fall would furthermore be its last, that the Berlin Wall would promptly fade and that Germany, which remained divided into two states, would be United. No individual had thought that, as a result, the political constellations that had ordered post-War European politics elongated than forty years would cease. But everything changed; all at once history would start to just take off at that kind pace. (The fall of the Wall and German reunification)The expedition of the developments also caught spectators by shock. A brief ten months after the collapse of the Berlin Wall the negotiation of the ultimate settlement was acknowledged on September 12, 1990, this would cover the process for the reunification of Germany.
In Consequence Of the Fact, German Unity, which in legal terminologies was concluded on October 3, 1990 with the extension of five federal states "to the area of validity of the Basic Law of the Federal Republic of Germany," (Facts about Germany) triggered abundant shared satisfaction, buoyed by the assurance of being capable to shoulder the responsibilities of the unification process. What emerged though was what Bertolt Brecht once termed "the trudge across the flatlands." The hurdles many Germans possessed with their newly achieved sovereignty were the consequences; scarcely anyone had been expecting it, later at the rate in which it took off - no individual was used to.
The value of German Unity increased still faster despite its most skeptical evaluations had expected. The people in the east had to strengthen the social accountability of unity and, naturally, the people in the west had to shoulder the financial aspects
As the economic alliance move onward, elements that had been recognized but inadequately appreciated in advancement began to surface. There was widespread perplexity about property titles. More than 2 million applications on properties within the territory of the late Global Depository Receipt existed designated deadline of December 31, 1992. As more claimants emerged, with countless winning positions in the courts, potential investors were commonly alarmed and determined that investing may not be a intelligent move after all.
A Further barrier was that East German manufactured product price had been considerably high-priced. The exchange prices of East German marks to deutsche marks oftentimes retained high costs, as did the early pay trade-offs, which concluded in salaries being considerably above the productivity level. Western German firms discovered it simpler and more affordable to work with the eastern German markets by increasing production in western facilities.
The third predicament was the inadequate infrastructure also presented a predicament for the various possible investors. Telephone service was developed somewhat gradually; several investors also protested.
· Germany PESTLE · The Federal Republic of Germany consist.docxodiliagilby
· Germany PESTLE :
· The Federal Republic of Germany consists of 16 states covering 357,021 square kilometers. The population is 81.8 million inhabitants. Germany is among the leading political powers of Europe. In some fields, it is also deemed as the technological leader.
· Germany has the 4th largest economy in the world. It is the 2nd largest exporter and 3rd largest importer.
· POLITICAL FACTORS
· Germany is a democratic republic. The political system functions under a system called Grundgesetz which was published in the 1949 constitutional document. The Social Democratic Party and the Christian Democratic Union leads the political system since 1949.
· https://www.marketingtutor.net/pestle-analysis-of-germany/
a. A global corruption index: Germany scored 80 points out of 100 on the 2018 Corruption Perceptions Index reported by Transparency International. Corruption Index in Germany averaged 79.35 Points from 1995 until 2018, reaching an all time high of 82.70 Points in 1996 and a record low of 73 Points in 2002.
b. A human rights index: Human rights in Germany enjoy a high level of protection, both in theory and in practice, and are enshrined in the Grundgesetz.
ECONOMIC FACTORS
Germany is the 4th largest economy in the world. With nominal GDP forecasts for 2019 set to the tune of $4.2 trillion, the country looks set for robust economic growth. However, a GDP decline in late 2018, coupled with shaky industrial growth, has left a shadow on the economic horizon of the nation.
Germany boasts a low unemployment rate of 3.2%, which is arguably one of the lowest worldwide. One of the top exporters in the world, Germany has a mixed economy with a budgetary surplus. And although the recent refugee crisis has left the country shaken, but with a strong economic foundation, Germany looks set to remain an established economic power.
Germany has comparatively low raw materials. It only has potash and lignite in a significant amount. The power plants which burn lignite are among the main sources of electricity for Germans.
Popular global brands are BMW, Mercedes Benz, Adidas, Porsche, Audi, DHL, Volkswagen, T-Mobile, Lufthansa, Nivea, and SAP. Between the years 1991 and 2010, local firms took part in 301 acquisitions and 40 mergers. Most products are in engineering. Automobiles, metals, machinery and chemical goods are some items they are proud of. German cities like Berlin, Frankfurt and Hanover hold the largest annual international trade fairs.
https://www.marketingtutor.net/pestle-analysis-of-germany/
a. GNI per capita (as a proxy for income)
This page provides the latest reported value for - Germany Gross National Income - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Germany Gross National Income - actual data, historical chart and calendar of releases - was last updated on October of 2019.
Actual
Previous
Highest ...
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
3. BASIC FACTS
• Location : Europe
• Official Name : Federal Republic
of Germany
• Capital : Berlin
• Financial Capital : Frankfurt
• Currency : Euro
• Area : 357,022 sq km (1/9th of India’s Area)
• Population : 82.9 millions (1/16th of India’s
Population)
4. • Official Language : German
• Life Expectancy : 81 Years
Approx (2016)
• Religion : Christianity
(predominant)
29%
27%
4%
2%
38%
Religious Affiliations, 2015
Roman Catholic
Protestant
muslim
orthodox christian
other
Source : EncyclopaediaBritannica(Altered)
5. Economic Growth is not sustainable
without nation-building and, even of
greater importance state building.
- Yemi Osinbajo
6.
7. PART 1 : Formation
(19th Century)
• Birth : 1871
• Form of governance : Monarchy
• Emperor : Kaiser Wilhelm I
8. THE ECONOMY (19th Century)
• Ideology – Organised Capitalism
• Shift towards an Industrial Economy
• Approx 31% of population engaged
in industrial sector
• Steel, Coal, Chemical, Electrical, high
precision engineering industries
were developed.
• Zollverein Trade Agreement
10. 1914-1918 : WORLD WAR 1
→Germany lost
POLITICAL SCENARIO
→ 1918 : Weimar Republic founded
→ Representative Democracy
→ Friedrich Ebert as President
of the Weimar Republic
→ Ideology - Socialism
11. 1919: TREATY OF VERSAILLES
Germany declared guilty of
aggression
33 billion dollars were fixed
to be paid to allies by Germany
Germany gave up some of its
territories
16. SOLVING THE CRISIS
• Adoption of “REICHSMARK’’
as new currency.
•The Dawes Plan,
1924
17. The Young plan, 1929
• Reparations were lowered.
(29 billion $)
• The time period given 58 years, one
fixed sum to be paid.
•When Adolf Hitler came to power in 1933, all important obligations
under the treaty of Versailles stood repudiated.
18. IMPACT
• Period of Stability followed
from 1924-1929
• RATIONALISATION PERIOD
• Industrial production
increased by 7.9%.
22. THE YEARS OF DEPRESSION
Political & economical unrest
23. REVIVAL OF THE ECONOMY
• 1933: Nazi party headed by Hitler
came into being
• Governance : Dictatorship
• Economic Ideology : Socialism
• Steps taken for reforming the
economy:
→ Limit on imports
→Work Creation Programmes
24. WORLD WAR 2 (1939-1945)
• Germany
surrendered
• Decline of socialism
• Emergence of USSR
and USA as 2 Major
Powers
25. THE COLD WAR TIMELINE (1947 – 1991)
• 1948 : Germany divided
into 2 blocs – East Germany
& West Germany
• 1948-1961 : Economic Growth in West Germany
→ Capitalist Orientation
→ Marshall Plan & The Economic Miracle
→ Rapid Reconstruction of capital Stock
26. • 1948-1961 : East Germany-
→ Stalinist Economic Model
→ Central Planning Body
→ Industry and Agriculture nationalised
27. • 1961 : Construction of Berlin Wall
• 1989 : Fall of Berlin Wall
• 1991 : Unification of Germany
→ Federal Republic of German is
established
→ Governance: Federal parliamentary
republic
→ Free elections and Helmet Kohl
served as a chancellor.
30. THE GERMAN POLITICAL SYSTEM
• Federal parliamentary republic
• Representative democracy
• Major Political Parties:
31. • The Legislature: Parliament
• The Executive Body:
→ President : Frank Walter Steinmeier
→ Chancellor : Angella Merkel
→ The Cabinet
→ The Agencies
• Judiciary
→ Civil Law
Bundestag Bundesrat
35. GDP by SECTOR
Source : https://www.statista.com/statistics/295519/germany-share-of-economic-sectors-in-gross-domestic-product/
The share of financial services is 4% approx in GDP.
42. Features of the German Financial System
Traditional Bank based system and Regional
principle.
World famous Universal banking system.
Insurance industry has shown tremendous
growth.
Non-Privately owned banking structure.
Efficient banking sector.
43. Universal banks refer to the one which conduct both commercial
& investment banking services together without any restrictions.
Universal
banks in
Germany
- Private Banks
Holds 38% of banking
assets
(also known as commercial
banks by official statistics)
- Publicly owned banks
Holds 29.4% of banking
assets
- Cooperative banking
sector
Holds 11.8% of banking
assets
44. Top 5 Banks
Germany
Rank Name Assets (Billions)
1 Deutsche Bank $1778.2
2 Commerzbank $588.9
3 KfwBankgruppe $626.55
4 DZ Bank $427.81
5 HypoVereinsbank $322.63
Total $3.74 Trillions
Source - Bundesbank
45. 1. Private Banks
a) Big Banks
b) Regional
banks
c) Branches of
Foreign Banks
46. A) Big banks
• There were 6 institutions in 1980’s but it
reduced to 4 by 2010.
Percentage
1980-90s
1999
2010
47%
19%
47%
47. Deutsche Bank
• Biggest private
sector bank.
• Asset valuation –
1.9 trillion euros as
of 2010.
• Bank starve to ROI
of 25% prior to
onset of crisis.
Commerz Bank
• 2nd largest private
sector bank.
• Asset valuation –
754 billion euros in
2010.
• Took over Dresdner
bank in 2009.
Unicredit & Post
Bank
• Unicredit bank is 3rd
largest private
sector bank.
• Post bank is 4th
largest private bank.
Big banks in Germany
48. • Since 1970, big banks lending
to big firms declined.
• It’s share in lending declined
from 75% in bank assets in
1960’s to 25% in 2011.
• Big banks tried to overcome
this by lending to SME’s…but
failed miserably.
Role of Big banks in Germany since
1970’s
49. B) Regional banks
10% stake in banking industry.
Examples of Banks set up by industrial
companies-
• Volkswagen bank
• Mercedes Benz bank
C) Foreign banks
3.6% of banking asset in 2012.
50. 2. Savings banks
• For savings banks.. We have namely Sparkassen, Regional
landesbank & Deka bank.
• Ownership – Locals & Country government.
A) Sparkassen bank
– was withdrawing money from private banks and depositing in
Sparkassen.
– It’s most trusted bank in Germany. During Financial crisis 2008,
Sparkassen bank was very stable.
– Public
51. B) Landesbanken
– Ownership – Jointly owned by Regional association
of Sparkassen & regional state government.
– Initially used to be the clearing house.
– It’s 2nd level in savings bank.
C) Deka bank
– Ownership – Jointly owned by Landesbanken &
GSBA.
– It’s 3rd level in savings bank.
52. 3) Cooperative Banks
A. Primary Cooperative Banks
– Provides retail banking services.
– 8.4% share in banking assets.
B. Regional Institutions
– Investment banking services & lending to non banks.
– 4% share in banking assets
– Still lending services are around 30% of the banking
assets.
54. Securities Market
End of Bretton Woods system & abolition of capital controls led
big banks to develop securities Market supplemented by the
following reasons -
• Greater competition from foreign institutions.
• Search for new business opportunities.
Main stock market is Frankfurt though there are 5 smaller
exchanges in other cities.
55. Frankfurt Stock Exchange
• Originated in 16th Century.
• Ownership –
– Run until 1991 By Frankfurt
Chamber of commerce.
– After 1991,
• 81% owned by banks
• 10% by regional stock exchanges
• 5.3% by traders.
• Though holdings have been
reduced now.
• Electronic Trading system – Xetra
56. Deutsche Borsche & LSE deal
• An attempt made by Deutsche
Borsche to take over LSE in 2005.
• However the deal was blocked and it
gave birth to ‘Investor Activism’.
Why did investors didn’t allow the
deal?
Investors feared of dilution of earnings.
57. Derivatives
Derivatives
• Deutsche Terminborse (DTB, German derivatives exchange)
was established in 1988 as screen based futures and
options exchange.
• In 1990, the exchange began competing with London
International financial futures exchange.
• DTB merged with Swiss Options & Financial futures
exchange to form Eurex.
58. Impetus to stock market
• Privatization of major
state owned enterprises.
• Acquisition of stake in
major companies by
foreign investors.
• Reform of pension
system, which accounts
for 10-11% of GDP.
60. German Banks & Indian banks
• India has only Deutsche bank
branches.
– There are around 17 branches of
Deutsche bank in India.
• Indian banks in Germany are :-
– State bank of India.
– ICICI Bank
61. Shadow Banks
• As per Deutsche Bundesbank-
Shadow banking in Germany is
constituted by ‘Open End Mutual funds’
whose value amounted to 1.3 trillion
Euros in September 2012.
• Germany’s shadow banking size is
10% of regulated banking sector.
• Still German banks deal with globally.
63. •Failure of Euro, the currency that ties together 19
European countries (out of 28) in an intimate but flock
manner.
• Over the past 3 years ,Greece ,Portugal ,Italy ,Ireland and
Spain have all triggered down on the blink of financial
collapse threatening the breakdown of the entire
CONTINENT & rest of the WORLD.
EUROZONE DEBT CRISIS
64. Monetary Policy VSFiscal Policy
• As part of Eurozone , countries started taking
loans at much higher amount due to low interest
rates.
• Countries like Greece increased its DEFICIT
SPENDING to a sky high level.
• These huge spending got possible only because
of member country’s help like Germany.
• But this only built up Greece’s debt burden.
65. What were the RESULTS ?
• Countries like Greece were abnormally increasing its
spending.
• Governments of Greece , Portugal and Italy were able
accumulate huge debts.
• In Ireland and Spain, cheap credits created enormous
housing bubble just as in the case of The UnitedStates.
• Credit flowed DEBT accumulated and the
economies of Europe became TIGHTLY
INTERTWINED.
66. Euro – Zone debt crisis & Germany
Use of G’s
Surpluses
• Loans to GIPICS at cheaper rates
• Government Debt of GIPICS started soaring
G was
Compelled
• To raise wage levels so as to make exports expensive
• To either compensate or to waive the loans
G’s action
• Denied to the measures so recommended
• Advised GIPICS to impose austerity measures
67. Great financial Crisis & Germany
• No real estate bubble.
• Fast recovery from crisis.
• Money market stopped working.
What were the Measures taken to take Germany out of
crisis?
• Leverage provided through target 2 system.
• Special Financial market stabilization fund supplemented by
Government intervention at a large scale.
68. Should Germany’s growth model be
treated as role model for other
countries?
• No. Reason being Germany relies
on Huge Net exports and Current
account surplus. So, ultimately it
depends upon global demand. The
developing countries and net
importing countries may take steps
to prevent importing from
Germany.
69. Exchange Rate System & Germany
• Until 2002, DM used to be the
official currency of Germany.
• DM 1.95583 = €1.
• 1 Euro = 78.26 INR
• DM is still converted to Euro by
Deutsche bundersbank.
• Germany follows a floating exchange
rate system.
70. Forex reserves of Germany & India
FOREX
RESERVES
OF
GERMAN
Y
FOREX
RESERVES
OF INDIA
71. Sovereign Wealth Fund
• Kenfo Fund
• Valuation - $27 Billion
• Founded – 2017 to help Germany’s
exit from nuclear energy.
• Planning to invest 30% in unlisted
securities & invest worldwide to
earn maximum return.
72.
73. BREXIT & GERMANY
• British PM had said that he wants a quick solution
but EU COMMISSION President free trade rejected
by the EU President.
• Germany is facing a biggest threat of 18.8 billion
dollars of good being exposed to tariffs.
• 17.5 billion of autos shipped in germany, exposed to
new tariffs
74. The effect of Corona virus
• China is a major export and import partner of
germany
• 7% of export and import of germany constitutes the
GDP
• Stagnation of economy in 4th quarter.
75. Deutsche Bundesbank & ECB
• Bundesbank was greatly respected for the control of inflation
in 2nd half of 20th Century, making German mark a respectable
currency.
• ECB follows the Bundesbank model.
• ECB is the most politically independent bank.
• ECB focuses narrowly on price stability.
• Deutsche Bundesbank manages foreign reserves, acts as
government’s fiscal agent.
76. Food for thought
• German Banking is one of the most unique
banking systems in world, however none of
the German Banks is in the list of top 10 banks
in the world!
We leave it to you. Can you guess, why?