End of an era: Ambrose Evans-Pritchard in the Telegraph quotes a Deutsche Bank director

'Germany in particular has manoeuvred itself into an economic and political crisis of Zeitwende proportions by outsourcing everything: its energy supply to Putin’s Russia, its aggregate demand to Xi Jinping’s China, its military defence to America, and its monetary policy to the ECB – in the lapidary words of Deutsche Bank board member Paul Achleitner.'

Zeitwende is German for 'end of an era'.