The champagne corks should be popping, executives hugging each other with joy and politicians rubbing their hands in glee. In Germany, a country maligned for years, the situation has changed economically and socially to an extent even the wildest optimists would not have dared believe.

Football's World Cup delivered the first signs last year. Things are looking good but broad sections of the population don't get it. They don't believe their lives have improved, even though they're spending more money again.