The honourable financial merchant presupposes a functioning social order. Players in the financial market must invest in a common understanding of the game that is upstream of the rules.

Recently, the reputation of the DAX 30 had suffered badly. The DAX is said to be an index full of corporations with poor corporate governance, high debt and dwindling profitability.

The corona pandemic is fuelling divergence in the eurozone. Although real estate prices are defying the pandemic, prices for business wealth in the southern countries of the eurozone are suffering more from the pandemic than in the north.

The time is ripe to revitalise the culture of the honourable merchant and its application as an honourable financial merchant.