People think of Germany as a country filled with engineers, innovators and perfectionists. And yet many decisions cannot be made without an underlying fear that something might go wrong. This careful consideration, this fear of unintended consequences, is often summarised with just two words: German Angst.

The Association of German Banks took this as an opportunity to conduct two studies to ask teachers about their opinions, the problems they face, and their hopes for the future – using qualitative group discussions and a quantitative survey.

In January 2026, the pre-determined tax basis (Vorabpauschale) for investment funds is once again likely to come as a surprise for many investors – even though it has been an integral part of investment taxes in Germany since 2018. But what is the pre-determined tax basis, and how does it work? This article explains what you need to know.