Germany's current period of overindulgence (5)
I believe the answer is:
spree
This clue is a double definition.
'germany's current' is the first definition.
(German river or 'current')
'period of overindulgence' is the second definition.
(as in a spending spree)
(Other definitions for spree that I've seen before include "Beano" , "Jollification" , "Period of extravagance or excess" , "Carefree, lively outing" , "Spell of wild activity" .)