Germany Really Needed That World Cup Win

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Things were looking pretty grim in the Bundesrepublik before Sunday, what with economic sentiment in the shitter and the country’s most important industry awash in scandal.

German analyst and investor morale dropped in July for a seventh straight month to its lowest level since December 2012, a leading survey showed on Tuesday, suggesting the third quarter got off to a shaky start for Europe's biggest economy.

Mannheim-based think tank ZEW's monthly survey of economic sentiment fell to 27.1 in July, missing the consensus forecast in a Reuters poll for a reading of 28.0 as political risk in the Middle East weighed on the mood.

Meanwhile...

According to the Federal Cartel Authority, some of Germany's most successful sausage producers have been colluding for decades to fix prices of sausages and related products.

The cartel has been dubbed the "Atlantic Circle" – named after the Hotel Atlantic in Hamburg where the sausage producers first met. According to the cartel authority, 21 producers and 33 individuals, all of whom will share the fine, made concrete agreements to jointly raise prices to the detriment of consumers.

German investor morale drops to lowest in one-and-a-half years in July [Reuters]
German sausage makers hit by €338m fine [FT via CNBC]

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For all their saber-rattling and bold talk about a final solution 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.