The Germans are funny about central banking. In what other country would you find a central banker interviewed in the country’s best-selling tabloid on the arcane topic of negative interest rates?  The tabloid was Bild. In an accompanying cartoon it depicted Mario Draghi as “Count Draghila” (he’s a vampire because he’s sucking German savers dry, apparently). Germans have a complicated history with central banks. In the telling, Germany’s hyperinflation in 1923 is blamed for the rise of the Nazi Party. And Germany’s excellent economic performance since the war is credited to the stolid Bundesbank. Aside from the history, Germans are…

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