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Germany's public savings banks 'Sparkassen' are a remarkable and puzzling phenomena. No other advanced industrial country relies as heavily on such small, public financial institutions to fuel its economy and how is it that such small institutions can drive one of the biggest and most successful economies in the world?

In theory, their diminutive size should hinder their ability to function in an environment where they compete with the capital and muscle of major international banks. Yet at the height of the financial crisis, when other banks drastically reduced lending, new loans made by Sparkassen increased as they continued to provide liquidity and lend to start-up firms. How have they managed to survive the economic turmoil and global pressures of the last few decades? What has enabled them to stay at the heart of the German economy? In a period of neoliberal 'too-big-to-fail' thinking, how have these relics of an ordoliberal past managed to flourish?

Mark Cassell answers these and many other questions in his exploration of the unique entity that is Germany's public savings bank system and the lessons it offers to banking systems worldwide.

Savings banks. --- Savings banks

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As much as any other nation, Germany has long been understood in terms of totalizing narratives. For Anglo-American observers in particular, the legacies of two world wars still powerfully define twentieth-century German history, whether through the lens of Nazi-era militarism and racial hatred or the nation’s emergence as a “model” postwar industrial democracy. This volume transcends such common categories, bringing together transatlantic studies that are unburdened by the ideological and methodological constraints of previous generations of scholarship. From American perceptions of the Kaiserreich to the challenges posed by a multicultural Europe, it argues for—and exemplifies—an approach to German Studies that is nuanced, self-reflective, and holistic.

National characteristics, German. --- Germany --- Civilization. --- Social conditions. --- Politics and government.