Just what is Germany’s Zeitenwende, the latest coinage in a language famous for its compound nouns? The “change in times” announced by the chancellor, Olaf Scholz, in the aftermath of Russia’s invasion of Ukraine last year rolled like a thunderclap across a country that, since unification in 1990, had flourished on the benefits of the post-cold-war peace dividend, its status as Europe’s powerhouse economy and being de facto regulator of the single currency, calling the shots in eurozone squeezes.…

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