Frankfurt Christmas Market

Regional specialities and a festive sea of lights: The Frankfurt Christmas Market attracts visitors from around the globe

The Frankfurt Christmas market has a long tradition and is one of the oldest Christmas markets in Germany. Up to the year 1393 it can be proven that markets took place in Frankfurt on Christmas. The traditional centerpiece of the market is the Römerberg, which with its historic half-timbered houses provides the backdrop for one of the country’s most beautiful and largest Christmas markets. The approximately three million visitors can enjoy the festive atmosphere between the city center and Römerberg from November 25 to December 22, 2018.

The highlight of the opening ceremony will be a live-concert by Dana Winner on November 25. And until December 22, the musical offer ranges from the performance of international Christmas carols, the playing of the tower musicians of the Old St Nicholas Church to the big ringing of the city with the simultaneous ringing of 50 bells.

What would a visit of the Frankfurt Christmas Market be without a taste of the market’s traditional mulled wine or any other of the beverage specialities on offer? Featuring a brand-new design, this year’s mulled wine mug has been awaited with much anticipation, especially by the many collectors amongst the market’s visitors.

Frankfurt Christmas Market – © #visitfrankfurt, Holger Ullmann

Over 200 Christmas stalls

Over 200 Christmas stalls attract visitors with lovely products and treats. In addition to the classic roasted almonds, mulled wine and sausages, you can enjoy typical Frankfurt Christmas specialties such as Bethmännchen (“a little Bethmann”), hot cider and Quetschemännchen. In addition to the culinary diversity, visitors can expect classic Christmas market decoration and folk art articles, as well as modern handicrafts and typical Frankfurt goods such as ‘dippe’ (ceramic pot) and earthenware products. On the adjoining craft market in the Roman halls and the St. Paul’s Church, there is also the opportunity to search for an extraordinary Christmas present.

At the gates of the city there are also a variety of romantic Christmas markets in Odenwald, Rheingau, Taunus and Wetterau.

Christmast market tours

On December 15, the Christmas market tour “Glühwein, Geschichten & Gebäck” (Mulled wine, stories and pastries) will be offered in many languages as well as for the blind and visually impaired and the Frankfurt Christmas market specialties will be presented. Also stories about the historic and modern Frankfurt, the Christmas market and famous Frankfurt personalities are part of the tour.

Another highlight is a guided tour through the winding alleys of Frankfurt’s new Old Town

Rosa Weihnacht

At the Frankfurt Hauptwache (Main Guard) there are more Christmas market stalls, which extend the classic Christmas market area up to the shopping street Zeil and thus form a passage to Christmas shopping. On Friedrich-Stolze-Platz there is also the so-called “Rosa Weihnacht”, which is organized by the gay community of the Rhine-Main region and creates a special atmosphere with its colorful lights, unusual decoration and design.

More information.


Photo: © #visitfrankfurt, Holger Ullmann,

Fostering Franco-German dialogue at the Financial Centre Frankfurt

Amid an unbeknownst Brexit outcome, cooperation between Financial Centres in continental Europe is essential in tackling the challenges of European integration. On December 10th, L’Agefi, one of the leading French press groups, will host the European Investors Day at the Financial Centre Frankfurt to facilitate the debate amongst the German and French financial industry. The following aspects will be part of the agenda

  • The future of monetary policy: is a stronger consensus possible under Lagarde’s presidency?
  • What role will the Franco-German relationship play in sustainable finance?
  • Is infrastructure investment the key to future growth?

We discussed the event with Philippe Mudry, L’Agefi, in an interview.

What role does the Franco-German relationship play in fostering cooperation in the continental European financial sector?

If and under which circumstances the UK will be leaving the European Union is still unknown. However, the continental European financial sector is already engaged in the process of transition. It knows that it will have to draw on its own resources to overcome the current difficulties to reassert itself on the world stage. And once again, as soon as it comes to thinking about and building the future of Europe, Germany and France stand shoulder to shoulder, partners and competitors at the same time, in a dialogue with their European partners. True to its tradition and convictions, L’Agefi wants to facilitate this debate.

 Why did L’Agefi decided to establish a new event in Europe?

On the 10th of December 2019, we will be holding the second European Investors Day (EID) at the Financial Centre Frankfurt. The aim of the event – inaugurated in June in Brussels – is to involve all of those who want to foster an integrated investment and finance industry in Europe, and to sketch out a vision for the future of such an industry. A few simple questions will build the basis for discussion: What consensus on monetary policy can be achieved? Can a relaunch of European integration give an impetus for renewing infrastructures in continental Europe, including, of course, the now core issue of tackling the challenges created by global warming in each of the countless dimensions? What role can European financial stakeholders, from institutional investors to portfolio management companies, regulators, politicians, banks, and insurance companies play in contributing to the common goal?

Why did L’Agefi decide to host the event at the Financial Centre Frankfurt?

Being a French media outlet, our decision to host the event at the Financial Centre Frankfurt in the wake of crucial European elections is by no means a coincidence; it reflects our strong belief that the Franco-German dialogue can once again crystallize ideas currently circulating in Europe.  In our opinion, one of the questions that need to be answered to support the financial sector in continental Europe in becoming aware of its full potential is: “Can the Paris-Frankfurt axis assert itself in the field of sustainable finance?” Considering that in 2019, L’Agefi has launched the new English-speaking, Europe-oriented media outlet “Asset News” hosting the EID in Frankfurt seemed to be the best way to participate in the emergence of an integrated finance and investment union European professionals are calling for.


Please register on L’agefi’s Website.

CFS survey on Facebook’s planned digital currency Libra

German financial industry does not expect Libra to be introduced next year. Major concerns about potential threats to financial stability

Facebook and a group of partners are planning to introduce a digital currency that can be used worldwide, the Libra coin. Shortly before the official launch, prominent supporters such as Mastercard, Visa and PayPal have pulled out of the project. Nevertheless, Facebook is sticking to its plans to roll out Libra next year. On 15 October 2019, the Charter of the Libra Association was signed by a total of 21 founding members.

Numerous politicians and regulators have voiced their concerns about the project since it was announced in June 2019. Central bank governors and finance ministers of the leading economies (G20) also oppose Libra on the grounds of potential risks to global financial stability.

The CFS survey on Libra reveals that the vast majority of respondents regard the concerns of central banks and supervisory authorities as justified. 76.8% of respondents expect Libra to reduce the effectiveness of monetary policy measures. 61.4% of respondents even consider Libra a threat to global financial stability.

In light of this, the majority of respondents (57.1%) do not expect Libra to actually be introduced in the coming year; only 38% believe this will happen.

“It is no surprise that there are significant concerns about Libra. These are also fuelled by Facebook’s failure to publicly address Libra’s long-term expansion plans,” Professor Volker Brühl, Managing Director of the Center for Financial Studies, interprets the survey results. “Moreover, Facebook’s reputation, which has been tarnished by past data protection scandals, is not exactly conducive to such a project,” Brühl adds.

In spite of all the concerns, a majority of respondents (61.1%) oppose a general ban on Libra and advocate constructively accompanying the project in order to promote innovation in the financial sector. “The mood in the financial sector towards Libra is very ambivalent. On the one hand, the idea of a global settlement platform for payments is fascinating; on the other hand, there are fears of incalculable risks,” explains Volker Brühl.

“Once again, the survey proves that the financial sector is open to innovation but then again keeps a close eye on the risks,” says Hubertus Väth, Managing Director of Frankfurt Main Finance e.V. He points out: “The idea of a uniform, globally valid digital currency is fundamentally attractive and has considerable potential. However, there is a lack of convincing answers to larger questions.”





The results are based on a quarterly management survey in the German financial sector.

The Center for Financial Studies (CFS) conducts independent and internationally-oriented research in important areas of Financial and Monetary Economics, ranging from Monetary Policy and Financial Stability, Household Finance and Retail Banking to Corporate Finance and Financial Markets. CFS is also a contributor to policy debates and policy analyses, building upon relevant findings in its research areas. In providing a platform for research and policy advice, CFS relies on its international network among academics, the financial industry and central banks in Europe and beyond.

CFS Index remains stable

The CFS Index, which measures the business climate of the German financial sector on a quarterly basis, maintains a stable level of 109.9 points. The overall unchanged level can be attributed to the steady to positive development of revenue, earnings and investment growth in the financial sector. However, these positive reports are offset by more severe job cuts at the financial institutions and slower growth in employee numbers at the service providers.

“Taken together, the sub-indices signal a cautious upward trend in productivity – and thus also in profitability in the longer term if this trend continues,” Professor Jan Pieter Krahnen, Director of the Center for Financial Studies, interprets the results.

In terms of the future international importance of the Financial Centre Germany, there is now a wide gap between the assessments of the financial institutions and the service providers, in contrast to their tentative positions in the previous quarter. For the financial institutions, this index value falls by -10 points to 107.6 points. Conversely, the value for the service providers rises by 7.9 points. Overall, the index value remains at a good level, with a slight decline of -1.0 points to 118.7 points.

Hubertus Väth, Managing Director of Frankfurt Main Finance e.V., explains: “So far only the service providers have profited. In 2018, over one billion euros flew into the service sector to prepare banks for Brexit. With regards to the banks, the still little earnings from a relocation of assets do not outweigh the costs of a transfer. Only a third of the expected 750 to 800 billion Euros were transferred. Most Banks are delaying the relocation until there is more clarity. Not least in order to prevent the straining of their equity capital.”

Rising revenue growth in the financial industry

The surveyed financial institutions and service providers were able to expand their revenues/business volume a little more than in the previous quarter, when growth was weak. The corresponding sub-index for the financial institutions rises by 2.7 points to 114.7 points in the third quarter. The service providers increase their revenue growth by 1.8 points to 112.7 points. Both segments of the financial industry are optimistic that they will continue to build their revenues in the current quarter.

Earnings growth of financial institutions is barely down / Service providers report rising earnings growth / Positive expectations for the current quarter

The earnings growth of the financial institutions sees a significantly smaller decline in the third quarter than had been expected. The sub-index falls just slightly, by -0.9 points to 103.5 points. Having reported declining earnings growth in the previous quarters, the service providers now see their positive expectations fulfilled. The corresponding sub-index climbs 4.9 points to 108.3 points. Both groups are anticipating a further increase in the current quarter.

Growth in investment volume is steady to positive

As with earnings, the financial institutions report little change in the growth of their investment volume in product and process innovations. The corresponding sub-index for the financial institutions falls just slightly, by -0.4 points to 105.8 points. In line with expectations, the service providers record a significant increase of 4.2 points to 114.1 points. The financial institutions are anticipating a slight upturn in the current quarter, while the service providers are less optimistic.

Large-scale job cuts at financial institutions / Weaker growth in employee numbers at the service providers

Job cuts at the financial institutions are significantly more severe than they predicted in the previous quarter. The employee numbers sub-index falls accordingly by -8.2 points to 90.5 points. Only a slight easing of job cuts is expected in the current quarter. The service providers are also hiring fewer employees than in the previous quarters. The corresponding sub-index is down -3.7 points to 108.7 points. This level is expected to be maintained in the current quarter.


The results are based on a quarterly management survey in the German financial sector.

The Center for Financial Studies (CFS) conducts independent and internationally-oriented research in important areas of Financial and Monetary Economics, ranging from Monetary Policy and Financial Stability, Household Finance and Retail Banking to Corporate Finance and Financial Markets. CFS is also a contributor to policy debates and policy analyses, building upon relevant findings in its research areas. In providing a platform for research and policy advice, CFS relies on its international network among academics, the financial industry and central banks in Europe and beyond.

Finanzplatz Frankfurt

The Financial Centres Frankfurt and Dubai intend to work together more closely

Frankfurt am Main – Frankfurt Main Finance (FMF) and the Dubai International Financial Centre (DIFC) agreed on closer cooperation between the two Financial Centres in a Memorandum of Understanding (MoU), signed on November 4th, 2019.

Arif Amiri, Chief Executive Officer of the DIFC, and Hubertus Väth, Managing Director of FMF, signed the MoU at the DIFC in the presence of German Consul General Holger Mahnicke and Yusef Ahmed, Managing Director of Frankfurt International Consulting.

Hubertus Väth is currently visiting the Middle East alongside a delegation from Frankfurt conducting a roadshow, as part of which the representatives participated in a DIFC panel discussion on “The European financial landscape after Brexit and Germany’s increasing role”.

“I would like to thank Arif Amiri, the German Consul General Holger Mahnicke and the team of the Frankfurt delegation for this important step. The agreement with the DIFC will enable us to work together more closely and to intensify knowledge sharing”.

In the upcoming weeks and months, Frankfurt and Dubai will put their joint plans into action and will thus be making a contribution towards strengthening their respective Financial Centres.