Bundesbank, Deutsche

Deutsche Bundesbank (Photo: www.user.tu-chemnitz.de)

Bundesbank, Deutsche

German Central Bank, now part of  the ECB.

With the establishment of the single currency the formerly powerful German Central Bank, the Bundesbank, became a subsidiary of the European Central Bank, as did the other national central banks. The indeoendence of the ECB from individual EU governments was partly modelled on the independence of the Bundesbank from interference by national politicians.