German Of The Day: Strafzins

That means “punitive interest rate” and refers to a rates below zero.

Strafzins

It’s an accurate word invention. The ECB has cut rates again and those who save are punished.

The German term “Strafzins”, or “punishment rate” is widely used in the country’s media to refer to interest rates below zero. And a day after the ECB cut rates for the first time since the spring of 2016, it is back in the news.

This is despite the fact there is an alternative German word for negative rates: negativzins (as Michael Steen, formerly of the FT and ECB global media chief, pointed out on Twitter).

Admittedly negativ also has . . . negative connotations. But the use of “straf”, or “punitive”, reflects a widespread perception across Germany that the ECB is penalising savers through its monetary policy.

“They want to pump us up with the credit drug.”

German Of The Day: Respektlosigkeit

That means disrespect. I don’t know what it means in Chinese, though. Failing to kowtow?

Wong

German foreign minister meeting with Joshua Wong ‘disrespectful’: China – Beijing has slammed democracy activist Joshua Wong’s meeting with Germany’s foreign minister as “disrespectful.” Wong has urged countries to stand by Hong Kong protesters against the long arm of China in the city.

Don’t worry, China. Angela Merkel is already cowering in a back office of the chancellery somewhere and has already made it clear that she won’t meet with him. She knows it would be Wong for her to do that.

“It is extremely wrong for German media and politicians to attempt to tap into the anti-China separatist wave.”

Isn’t That Special

Germany Isn’t Special – To pull its weight, it needs to start seeing itself as a normal country, subject to the same pressures as all its neighbors.

Germany

Polls before this weekend’s elections in states in the former East Germany show the right-wing Alternative for Germany (AfD) comfortably capturing 20 percent or more of the vote. This is just one of the ways in which the country at the center of Europe is confronting a new state of affairs.

Ever since reunification, Germany has built its liberal democracy on a few key pillars—a disavowal of the extreme right, a focus on economic performance, and a steadfast relationship to the United States—to avoid a return to the conflagrations of the past. By following these guidelines, the country has won itself respect around the globe. But it has also persisted in treating itself as a special case, not subject to the pressures affecting its Western peers. That, in turn, has led to resentment among its partners. It is time for Germany to buck its postwar policy traditions and begin to see itself for what it is: a normal power.

A German friend of mine summed it up more succinctly: Die Deutschen wollen immer eine Extrawurst haben. The Germans always want “an extra sausage” = special treatment. Are those days finally over? In the real world, I mean? Stay tuned.

Donald Trump Threatens Germany With Visit

Clearly worried about his health after confiding to Angela Merkel  during G7 talks that he “has German in his blood,” President Donald Trump announced that he will be coming to Germany “very soon.”

Trump

To seek medical attention, I assume. German doctors probably know best when it comes to getting  “German” out of the bloodstream and why take any chances with a threatening ailment like this.

Let’s just hope it won’t be too late because worrying signs of the blood illness appeared during said talks when Trump grew delirious and called Merkel “a brilliant woman” at one point.

“Ich habe Deutsches in meinem Blut.”

Speaking Of Null…

Zero, that is.

Debt

Germany May Abandon Its Beloved Black Zero – Chancellor Angela Merkel is still clinging to her policy of a balanced budget, but it is becoming increasingly clear that Germany’s economic downturn could soon usher in a return to deficit spending…

For years now, a balanced federal budget, known here in Germany as the “schwarze Null,” or black zero, without any fresh borrowing, has been a permanent fixture of German fiscal policy. After four decades of chronic borrowing to finance the German national budget, the shift stood for the renunciation of the debt state and became a symbol of sound policy. But now the issue is the subject of debate again — not only due to expensive political plans, but also the threat of a recession in Germany…

“We can accomplish the tasks at hand without accruing new debt.”

German Of The Day: Null

That means zero. Nothing. Nada.

Zero

And zero is what you get if you purchase the world’s first 30-year bond featuring – zero income. Not much of an outcome there. What a steal. In more ways than one.

Germany Regrets Size of Bond That Pays Nothing as Auction Flops – The world’s first 30-year bond featuring zero income struggled to find buyers, prompting Germany’s debt agency to admit the sale may have been “too large.”

The nation failed to meet a 2-billion-euro target ($2.2 billion) for the auction of notes maturing in 2050, signaling that negative yields across Europe may finally be taking their toll on demand. It’s another sign that the global bond rally may be coming to a halt now that more than $16 trillion of securities have negative yields.

“The broader conclusion is that this is an ominous sign for cash bonds.”

Berlin’s First Driverless Bus Hits The Street…

Killing five.

Bus

Just kidding.

Berlin is already teeming with last-mile mobility options like shared bikes and e-scooters.

Now the city’s public transport company Berliner Verkehrsbetriebe (BVG) is set to add driverless buses to the mix, testing its first autonomous shuttles on a public road this month.

The BVG has been testing the self-driving bus, developed by French company EasyMile, in the confines of a campus for the past year. This month it will face real-world traffic conditions on a 600 metre stretch from an underground station in the north-western part of the capital.

OK, folks. The key term here is BVG (Berliner Verkehrsbetriebe), the city’s public transport company. The joke around town is that BVG actually stands for Bin Vorsichtshalber Gelaufen or “decided to walk, just in case.” They’re not terribly reliable here, you see.

German Of The Day: Igelsex

Go figure. It’s pronounced “eagle sex” but it means hedgehog sex.

Igelsex

Germans kept up at night by noisy igelsex (that’s hedgehog coupling) – Police called out to reports of nocturnal disturbances find hedgehogs ‘having fun.’

I don’t buy it, though. I think these Germans were kept up at night, tossing and turning, worrying about the German economy.

“Germany’s economy is highly dependent on exports, and that’s what’s hitting the German economy now. If the trade conflicts persist for many more years, this will hit Germany very hard.”

German Of The Day: Flaschenhals

That means bottleneck.

Flashenhals

Germany is looking for new ways to power its economy as the traditional growth engines of manufacturing and exports falter. But the country’s outdated internet is acting as a bottleneck.

The sorry state of the online network has become a national joke and an economic liability. Germany ranks 33rd in the world in average monthly fixed broadband connection speeds, and 47th for mobile, according to Speedtest Global Index.

“It’s too slow. If you’re really world class in production, having a ranking of, say, [33rd] in working internet does not fit together with that image.”

German Word Of The Day Except That It’s An English One: Mull

That means to study or ruminate, ponder, to think about carefully, consider, again and again, with great care, for an exceedingly long period of time, until the thing you are mulling about has taken care of itself and you are conveniently off the hook. Again.

Gulf

It also means to mess up or make a failure of.

Germany mulls joining European Persian Gulf naval mission – Pressure is growing on the German government to lend its military weight to a potential European naval mission in the Persian Gulf. The UK government floated the idea of a joint European operation last Monday.

“Hardly any other country is as dependent on the freedom of international shipping as export champions Germany.”