MONEY

Germany vs. Argentina in 9 Numbers

When the World Cup ends on Sunday, we'll know whether Germany or Argentina can claim victory. In the meantime, here's a look at how the residents of Berlin and Buenos Aires win and lose financially.

MONEY

WATCH: U.S. Men’s Soccer Star Alejandro Bedoya on His Biggest Money Mistake

Alejandro Bedoya, midfielder for the U.S. World Cup team, talks about blowing a paycheck, investment strategies, and an important money lesson from his father.

Bedoya on his biggest money mistake:

My first paycheck, I remember, I put in the bank. And the second one…you know, in Europe everybody is always…they want to look good…and it’s probably buying one of those brand name designer things that, I remember, for that month it was like probably my whole paycheck. Buying things like that. I mean, those things are cool to have, but it’s not really important.”

Bedoya on what he’s learned from his father about money:

He’s always taught me that it’s not what you’re worth, it’s what you negotiate. That holds true in every aspect. It’s really how you handle things and how you go about what you think you deserve. I feel like that has helped me out a lot with the opportunities I’ve gotten with money and investments.”

 

 

TIME World Cup

The Greatest Moments of the 2014 World Cup Timeline

Relive the greatest moments of Brazil's 2014 World Cup—the goals, the saves, the tension, the legends.

 

TIME World Cup

Watch: The History Behind the Germany vs. Argentina Rivalry

This Sunday, Germany and Argentina will face off in the World Cup final. But this is not the first time that the two countries played against each other

This weekend, the 2014 FIFA World Cup Trophy will go from the current holder of the gold statue, Spain, winner of the 2010 World Cup, to either Argentina or Germany. But this is not the first time the two countries have faced each other in a World Cup final.

In 1986, Argentina beat Germany 3-2, in a magic match where Maradona became Maradona. And it happened a second time in, 1990, when the Germans won 1-0 in what was considered at the time a less than exciting performance from the two teams.

Will Sunday’s match be a 1986-type final – energetic, surprising, memorable – or a 1990 final?

TIME’s Bill Saporito takes a look back at the rivalry between the countries.

TIME World Cup

The World Cup’s Moments of Strange Symmetry

In the game of two halves, sometimes history does seem to repeat itself

As an event that brings in people and cultures from all over the planet, a major part of the spectacle of the World Cup is its celebration of diversity, which makes the odd moment of symmetry all the more striking.

From full body suited fans to goofy goal celebrations, here are some oddly mesmerizing moments of similarity at the World Cup.

TIME Books

Don’t Worry, Brazil. You’ve Still Got a Shot at the Quidditch World Cup

Harry Potter and his crew cheer on once-rival Viktor Krum's Bulgaria

Brazil may have a chance to redeem their 7-1 World Cup loss to Germany—at least in the wizarding world. The Harry Potter fan site Pottermore Friday began live-blogging the Bulgaria-Brazil Quidditch World Cup, with updates from Rita Skeeter and Ginny Potter.

Viktor Krum, Hermione, and Neville Longbottom all make appearances in the updates from Pottermore, where J.K. Rowling released Tuesday a new story about Harry and his friends. While Ginny Potter (who has apparently chosen to take Harry’s name after their marriage) focuses her commentary on the skilled Brazilian chasers, Skeeter’s commentary strays more towards gossip about Dumbledore’s Army.

“Neville Longbottom is already on his feet cheering, even though nothing has really happened yet. Is he drunk?” Skeeter ponders.

And Ron doesn’t seem to have let go of the hard feelings about his now-wife Hermione once dating the Bulgarian seeker Viktor Krum. “Harry Potter is cheering every well-hit Bulgarian Bludger, whereas his supposed best friend Ronald Weasley appears to be gnashing his teeth in chagrin,” Skeeter notes.

Ron (and Brazil) may be in for a relieving ending—the Brazilian Quidditch team led 50-20 as of press time.

TIME World Cup

Argentina vs. Germany Referee Controversy Echoes, 24 Years Later

1990 World Cup Germany Argentina
West German forward Rudi Voeller heads the ball over Argentinian defender Oscar Ruggeri as forward Juergen Klinsmann looks on during the 1990 World Cup final between West Germany and Argentina July 8, 1990 in Rome. GEORGES GOBET—AFP/Getty Images

The two teams last faced off during the 1990 World Cup in Italy

sportsillustrated

By Ben Lyttleton

The outstanding image from the last time Germany and Argentina met in the World Cup final, back in Italy in 1990, was not Andreas Brehme striking home the winning penalty in the 85th minute, securing the 1-0 win for the European side, nor was it coach Franz Beckenbauer celebrating with the trophy.

WATCH: All Eyes On Rio: World Cup focus shifts to the Maracana

It was actually current U.S. national team manager Jurgen Klinsmann, tackled late by Pedro Monzon after a one-two combination with Lothar Matthaus, rolling three times and then raising up on one shoulder to continue his pained reaction. The challenge was in keeping with the rest of the game, and Monzon, a halftime substitute, was shown a straight red card for the tackle by referee Edgardo Codesal.

Worse was to come for Argentina: five minutes from time, Codesal awarded West Germany a penalty after Matthaus played through Rudi Voller, who, tightly marked by Roberto Sensini, fell to the ground in the area.

Previously in the match, Codesal had rejected Gabriel Calderon’s claims after a similar clash with Klaus Augenthaler.

Two minutes later, Codesal sent off another Argentine, Gustavo Dezotti, for grabbing Jurgen Kohler around the neck and wrestling him to the ground in an effort to get the ball off him for a throw-in. Codesal ran over and theatrically brandished his second red of the game, reducing Argentina to nine men.

“The referee has been physically manhandled by five players and if Argentina continue like this, FIFA will have to ban them from the next World Cup!” said BBC commentator John Motson. “Surely you can’t have this in the final!”

Brazil’s Nightmare Gets Worse: Argentina to Play for World Cup Title

This was Codesal’s last game as a referee. When he returned to Mexico after the game [he was Mexican-Uruguayan, and his grandfather was born in Argentina], he was confronted with hordes of journalists.

“I was brave and honest, like I always am,” he said. “The foul was Argentina’s fault, not mine. I’m calm and happy.”

At that World Cup, Codesal had taken charge of Italy’s 1-0 win over USA, awarding a penalty missed by Gianluca Viali, and blew for two penalties as England beat Cameroon 3-2 in the quarterfinal. FIFA observers gave him an average rating of 8.5 for his performances.

Codesal’s father, Jose Maria, was a referee who officiated at the 1966 World Cup. The one piece of advice he gave his son: “Don’t ever give a penalty if you think you will have to explain it a thousand times.” Nine years on, he remained convinced that his decision had been the correct one.

“I have no doubt,” he told Ole. “The referees don’t have to look for intent, they have to look for contact. This is what I saw: the Argentine tried to get to the ball first but he stretched his leg and tackled the German. It was a penalty. I was convinced at the time and I have not changed my mind since. For me, it’s a closed case.”

Netherlands Avoids Antics, Drama, But Feels Familiar Heartbreak

The case, actually, was far from closed. Soon after that interview, Humberto Rojano, the former president of the Mexican Referees’ Commission, went public on how Codesal had been appointed. He spoke of a meeting he had with Javier Arriaga, former head of the Mexican FA’s Referees’ Commission and a key figure in FIFA’s Referees’ Commission in 1990. Arriaga also happened to be Codesal’s father-in-law.

Rojano told Mexican paper La Jornada that “the authorities,” ­a phrase that is deliberately vague, ­had told Arriaga that “Argentina didn’t have to win.”

“I know the Argentines still hate me and that hurts,” Codesal told Reforma years later. “I love them and it hurts that I made them suffer. I would have liked Argentina won their third World Cup back in 1990. If I were God, I would change things, but I’m not God. I do know that in 50 years, they still won’t forgive me.”

Five Goals in 18 Minutes: How Mighty Germany Ripped Apart a Helpless Brazil

Codesal had actually watched the 1986 World Cup final between the same sides in Mexico, and had been supporting Argentina. But in 2011, over 20 years after the incident, Codesal’s stance had hardened against the continued hostility from the losing nation.

“I admire the Argentines for their will to win, but they have not learnt to lose, they just can’t accept it,” he said. “Someone told them that they lost because I was the referee, and they believed it. When Maradona uses his hand to score, that’s intelligent; but if they don’t win, it’s because someone stole from them.”

FIFA will announce the referee for Sunday’s clash between Germany and Argentina Friday afternoon, and whoever earns the honor will surely be operating with the cloud of Codesal lingering in the memory.

This article originally appeared on SI.com.

GALLERY: Brazil Fans React to Semifinal Demolition

MONEY

UPDATE: Why World Cup Bettors Are Smarter Than Bond Buyers

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AP (Soccer); Getty (Stock Exchange)

Update: Two weeks ago, TIME’s Bill Saporito used the lens of the global bond market to accurately predict that Germany (arguably the world’s best-run economy) would be facing off this weekend against Argentina (one of the worst) in the final of the World Cup. We’re resurfacing his piece in the belief that readers would want another look at Saporito’s prognostication prowess. Here it is:

In soccer, Argentina is a global power. Ranked 5th in the world and featuring among its host of stars the world’s best player, Lionel Messi, it is one of the teams that can threaten Brazil’s march to the World Cup title.

In financial circles, on the other hand, Argentina is to a functioning economy what the Faroe Islands are to football. A bit of a joke. A doormat. Indeed, last week the U.S. Supreme Court slide tackled Argentina as it tried to dribble past some American investors who are demanding to be paid, in full, the interest due on their Argentine bonds. Having convinced other creditors to go along with a deal—part of a broader effort to right the economy after years of mismanagement–the Argentinians wanted to force the American investors to eat some losses as well. The Supremes blew the whistle on that.

This raises a question, albeit one more likely to be debated in bars off Wall Street than on the beaches of Rio: Are you better off betting on a country’s bonds, or on its soccer team? With Argentina, the answer seems clear: The country’s chances of paying off its sovereign debt in full appear to be inversely proportional to the odds of its football team winning the World Cup, where it was a 4-to-1 pre-tournament favorite in Las Vegas. Argentinian debt, meanwhile, has a yield of about 13%, reflecting a risk premium that only Nigeria approaches among World Cup finalists. In short, betting on Messi may be the saner play.

With global interest rates so low in a world awash in liquidity, you’d think more global investors would reach a similar conclusion — but in many cases you’d be wrong. Investors ought to be yellow-carded: Their quest for yield is leading to crazier behavior in the market than on the pitch. Italy is a prime example. Punters pegged Italy, one of footballing’s great nations, as a 20-to-1 long-shot to win the World Cup. They got it right, too, considering Italy’s early exit after a controversial loss to Uruguay. But the Italian economy is a lot worse than the Azzurri. It’s still mired in its economic past, and where young people are stifled in finding work. Still, Italy’s bonds offer a measly 2.92%, only about 30 basis points higher than the 2.61% for U.S. Treasuries.

The U.S. team, on the other hand, went off as a 100-to-1 shot; ironically, we’re still considered a third-world nation on the soccer field, despite advancing to the knockout round of the World Cup again. With its strong (if heartbreakingly inconsistent) play so far, the U.S. team’s odds are now down to 40-to-1 to win the Cup. Still, the market is telling us to bet the bonds, not the team, and it’s probably right.
Soccer bettors seem to have longer memories than investors do. When the latter look at the histories of Italy, Spain, Greece, Portugal and even France, it’s as though these nations have never defaulted, devalued, or restructured over the last couple of centuries. Compare Spain and Brazil, for example. Brazil’s bonds are yielding 4.22% while Spain’s offer a relatively paltry 2.76%, even though Spain’s economy is a shambles. True, Brazil has also struggled of late, but it has oil, youth, and seemingly higher growth prospects. And unlike Spain, it has major export industries in agriculture and aerospace — not to mention soccer players.

The place where the football bettors and investors correlate more closely is Germany: The former had 5-to-1 odds early on, the latter a 1.38% yield. True, German economic history is not untroubled, but today it is Europe’s champion economy — the strength of which goes a long way toward explaining why European bond rates in general have remained so low. Germany is, in effect, propping up the rest of the European economy. After today’s shutout against the U.S., however, it looks clear that die Mannschaft won’t do anything of the sort on the soccer pitch. If the form plays out, one of the world’s best-run economies will face off with one its worst.

 

TIME World Cup

Watch Every World Cup Goal in 1 Minute

With a total of 171 goals after the final match, the 2014 World Cup in Brazil tied the record for most goals scored, which was previously held by the 1998 World Cup in France

TIME Photos

Feel Good Friday: 16 Fun Photos to Start Your Weekend

From Paris Fashion Week to the Mudflat Olympics, here's a handful of photos to get your weekend started right

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