ECB's Weidmann gives warning of an economic slowdown - German Press

According to German newspaper Handelsblatt, Jens Weidmann, ECB board member and head of the German Bundesbank delivered words of warning during a July 6th cabinet meeting, where Weidmann was a guest.

Jens warned the German cabinet to prepare for harder times to come, with a potential economic downturn beginning to firm up into a reality, and Weidmann noted that the ECB has little room to act on monetary policy, as the central bank's normalization has been too slow.

The Bundesbank recently cut it's GDP forecast for 2018 from 2.5% to 2% as Germany's own central bank prepares for a downturn, with much of the concern focused on trade and political tensions.