Jörg Asmussen
Economist and former State Secretary of the Federal Ministry of Finance of Germany
4
APPEARANCES
2
PODCASTS
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Jul 8, 2026
Episode 3: Emergency Powers
19:53
20:00
20:27
20:41

Jörg AsmussenGUEST
It's well known that the government as a whole supports the idea of using the frozen Russian central bank assets.

Jörg AsmussenGUEST
But as you all know, we're currently stuck at the European level because Belgium, where these assets are held by a private company, Euroclear, is asking for guarantees from other EU member states so that it doesn't have to carry the financial risk alone.

Karolina DrüthenHOST
However, Belgium feared that Russia could later sue for damages, leaving a single country liable for the financial risk.

Jörg AsmussenGUEST
Under the usual EU burden-sharing formula, Germany would be responsible for about a quarter of the guarantees.
Bonus episode: Ernstfall — What if Russia attacks NATO?
19:23
C
19:15Carolina DrütonHOST
At the moment, millions of customers are unable to access their online accounts.

Jörg AsmussenGUEST
We need to clarify quickly what cash reserves are available at Germany's central bank, and whether additional cash could be transported to Germany from neighboring countries at short notice.
Episode 2: Invasion
15:52

Jörg AsmussenGUEST
But the longer reservists are away from their regular jobs, the more it hurts the country's economic output.
Episode 1: Deception
8:33
19:15
19:23

Karolina DrüthenHOST
But they do not have to worry about classified information or the sensitivities of a governing coalition.
11 MINS LATER

Karolina DrüthenHOST
At the moment, millions of customers are unable to access their online accounts.

Jörg AsmussenGUEST
We need to clarify quickly what cash reserves are available at Germany's central bank and whether additional cash could be transported to Germany from neighboring countries at short notice.
