enuine sentiment, but rational argument. Even the most fervent supporters of unity are Vernunfteuropaer, to borrow a term coined in the days of the Weimar Republic. They endorse Europe but do not particularly love it and feel only a limited duty to support it. This is a pale imitation of the spirit that once m

a series going back at least a century whereas the first chart has data patched in where appropriate. The Bundesbank data clearly starts after the Weimar Republic money printing experiment of the 1920s so the second chart is perhaps a more faithful account of how unusual the last decade has been. Page 28 De