Today, the IFO Institute stated about cut in forecasts for economic growth in Germany in 2015 by 0.2% to 1.7%. At the same time, the forecast for GDP growth in 2016 has been improved to 1.9%, against 1.85% previously. The main stimulus for growth in Europe's largest economy will be low oil prices and wage growth that will continue to support the growth of consumption in the country. The program of quantitative easing in the Eurozone and the expected decline of the euro will also positively influence the situation in the country and stock indexes. We expect the resumption of the negative dynamics of the euro amid soft monetary policy in the euro area and its tightening in the United States.