The German government continues to talk the liberal talk while it becomes as protectionist as its French neighbour. Some would even argue that Berlin is now embracing Paris-style economic patriotism with even greater gusto than the French.

Berlin has been tooling up its arsenal to protect strategic sectors from foreign takeover and casting a close eye on the investment designs of sovereign wealth funds. A good example of Germany’s heightened protectionist instincts is the government’s approach to the sale of the Bundesdruckerei, the federal printing office that prints banknotes as well as electronic passports, healthcare cards and ID cards.