The U.S.subprime mortgage crisis in 2008 and the European sovereign debt crisis, starting from Greece in 2010,generated great impact in the global political, economic and financial field.Being a leading role in solving the problem of the debt crisis, Germany experienced various changes in financial areas since the outbreak of the crisis.This paper describes the developments and changes in the German financial markets, especially in the bond market and property market.It also analyzes the German financial regulatory reforms during this time, including the current financial reform.An outlook on the future development is also given at the end of the paper. <<