Its commercial policies are increasingly determined by agreements among European Union (EU) members and by EU legislation. Germany introduced the common European currency, the euro, on 1 January 2002. Its monetary policy is set by the European Central Bank, which is headquartered in Frankfurt. Two decades after German reunification, standards of living and per capita incomes remain significantly higher in the states of the former West Germany than in the former East. The modernisation and integration of the eastern German economy is a long-term process scheduled to last until the year 2019, with annual transfers from west to east amounting to roughly $80 billion. In January 2009 the German government approved a €50 billion economic stimulus plan to protect several sectors from a downturn and a subsequent rise in unemployment rates.
Germany is the world's top location for trade fairs. Around two thirds of the world's leading trade fairs take place in Germany.
Of the world's 500 largest stock-market-listed companies measured by revenue in 2010, the Fortune Global 500, 37 are headquartered in Germany. 30 Germany-based companies are included in the DAX, the German stock market index. Well-known global brands are Mercedes-Benz, BMW, SAP, Siemens, Volkswagen, Adidas, Audi, Allianz, Porsche, Bayer, Bosch, and Nivea. Germany is recognised for its specialised small and medium enterprises. Around 1,000 of these companies are global market leaders in their segment and are labelled hidden champions.
Economy of Germany. File:Labour productivity levels in europe.svg. Cancel Edit Delete Preview revert Text of the note (may include Wiki markup) Could not save your note (edit conflict or other problem).
The first highway system to have been built, the extensive German Autobahn network famously features sections where no speed limit is in force. The country's most important waterway is the river Rhine. The largest port is that of Hamburg. Frankfurt Airport is a major international airport and European transportation hub. Air travel is used for greater distances within Germany but faces competition from the state-owned Deutsche Bahn's rail network. Energy in Germany. Energy in Germany is sourced predominantly by fossil fuels, followed by nuclear power, biomass (wood and biofuels), wind, hydro and solar.
Key to Germany's energy policies and politics is "Energiewende", meaning "energy turnaround" or "energy transformation". Germany intends to eliminate current use of nuclear power by 2022. Many plants have already been closed ahead of their intended retirement dates. It is presumed that fossil fuels, wind power, solar power, biofuels, energy imports from France and energy conservation will be enough to replace the existing capacity from nuclear power. The policy includes phasing out nuclear power immediately, and progressive replacement of fossil fuels by renewables. Science and technology. Science and technology in Germany. Germany's achievements in science and technology have been significant and research and development efforts form an integral part of the country's economy.
List of German inventors and discoverers.