1919: Germans take war machines apart outside Berlin. Under the terms of the Treaty of Versailles Germany was required to disarm. This tank is in fact a British tank, captured and put into service by the Germans. Photograph:  Hulton Archive/Getty Images

“German economic life is to be annihilated . . . It amounts to the denial of the people’s right to existence.” (German foreign minister Count Brockdor(...)

Karl Marx: his warning that history repeats itself first as tragedy and then as farce has modern application. Any populist government in Europe might succeed in raising growth with banking policies – but this make them so dangerous. Photograph: Imagno/Getty

Rereading John Weitz’s biography of Hjalmar Schacht, Hitler’s Banker, I noted some interesting parallels between the 1930s and now that I had not cons(...)