If the objective is to try and grow our own Mittlestand, the first thing that has to be accepted is that this money is not for everybody and needs to be kept separate. It is for companies that have been identified as having the potential to thrive in export niches. Photograph: Ralph Orlowski/Bloomberg

The election campaigns were in full flight last week so we should not be too surprised that the Government jumped the gun on announcing its new ban(...)

The headquarters of the European Central Bank (ECB) stand in Frankfurt, Germany. Photograph: Ralph Orlowski/Bloomberg

The European Central Bank will press banks to change the models they use to predict losses and take account of its views on asset valuation if (...)