Germany

An obviously tired German bank employee fell asleep on his keyboard and accidentally transformed a minor transfer into a 222 million euro ($293 million) order, a court heard Monday. The Hessen labour court heard that the man was supposed to transfer just 62.40 euros from a bank account belonging to a retiree, but instead “fell asleep for an instant, while pushing onto the number 2 key on the keyboard” — making it a huge 222,222,222.22 euro order. The bank discovered the mistake shortly afterwards and corrected the error. The case was taken to court by the man’s 48-year-old colleague who was fired for letting the mistake slip through when verifying the order. The court ruled that the plaintiff should be reinstated in his job. [AFP]

  • 28 Mar 2013 at 3:10 PM

Mixed Bag From The Only Two Economies That Matter

A little bit of good news on economic growth from the U.S. and retail sales from Germany. A little bit of bad news on jobs from both. Read more »

Let this be a lesson to anyone hoping to avoid a couple centuries in prison– nobody fucks with Jimmy Cayne’s roach clip and gets away with it! Read more »

  • 31 Jan 2013 at 2:30 PM

Germany Looks At Its Banks

For all their saber-rattling and bold talk about a fix to the problem of global financial risk, the Germans haven’t done a hell of lot to rein in their banks. There is, for instance, no Großdeutschesvolckerregierung. At least, not yet. Read more »

Now that the U.S.’s economic recovery is a sure thing, thanks to the hard work our sage and wise leaders put in a couple of hours after allowing the country to fly off the fiscal cliff, weary eyes turn to the other side of the Atlantic, where the Germans and Italians look to elect similarly sage and wise representatives. Well, the Germans, anyway. Read more »

  • 10 Dec 2012 at 1:15 PM

Would-Be Locust Exterminator To Lose German Election

We have good news for those of you who do business with/in the Bundesrepublik: Angela Merkel is going to be re-elected.

We know that she’s no Paul Ryan, but compared to her opponent in September’s German parliamentary elections, she’s the second coming of Ronald Reagan. Happily for those who care, the German Socialists (can you believe they actually have a party that puts that word in their name?) have nominated for the Chancellery Peer Steinbrück, a man whose never run in an election he didn’t lose and whose suave handling of matters during his time as Merkel’s finance minister ensured that Europe’s approach to financial matters did not quite merit the lofty title of final solution.

For while Steinbrück did not coin the loving term “locusts” for hedge funds and private equity firms—the last man to lead the SPD to defeat at Merkel’s hands, Franz Müntefering, did—he certainly did his level best to extirpate the capitalist demon during his four years at Berlin’s FinMin. But fear not, the media assures. Not only is he 10 points back in the polls, but: Read more »

They’re gonna downgrade their outlook from stable to negative though, just in case. [WSJ]

Hand to god, he’d sooner die. Read more »