"In this situation, it is crucial to strengthen Germany’s economic resilience and refocus on consolidating public finances over the medium term," Kolak emphasized. “We should build on proven, decentralized structures. After all, resilience starts in the regions,” said the BVR President. Cooperative banks provide reliable lending to small and medium-sized enterprises (SMEs), skilled trades businesses and households, funding their lending activities through regional deposits. Diversity in the banking sector is therefore not a relic of the past, but a factor contributing to stability. Banks’ competitiveness should consequently not be measured solely by their size and market valuation. “Against this backdrop, we expressly welcome the support of the Deutsche Bundesbank and the German Federal Financial Supervisory Authority (BaFin) for a separate European regulatory regime for small banks,” Kolak added.

The tense geopolitical situation also highlights the importance of Europe becoming more independent in payments. With Wero, the private sector is creating a European alternative to non-European payment service providers. The BVR supports the digital euro as a complement to cash. “However, for the digital euro to strengthen Europe’s sovereignty without jeopardizing banking stability, we need a binding roadmap for a phased introduction, a low holding limit and a compensation model that reflects the actual costs incurred by banks in providing digital euro services,” Kolak continued. She also stressed the importance of making use of existing European infrastructure. Creating parallel structures would undermine precisely the private-sector investments needed to ensure European sovereignty in payments.