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Not quite sure if it is still the case, but not so long ago Germany was borrowing money at negative interest rate.

No, you got that wrong. Either their interest rates were compared to their growth, which may yield a positive return or you're mixing things up with the European Central Bank's decision to reduce the interest rate on deposits.

Edit: mea culpa. Looks like you're right : http://www.ft.com/cms/s/0/84a1ddc8-bce5-11e4-9902-00144feab7...

That was true for the federal government however I would expect the rates for states and local governments to be quite different.

Lands, at least the better ones, are also borrowing at zero/slightly negative yields: http://www.boerse-frankfurt.de/en/bonds/lfa+f+b+bayern+is+r2...

This happens not (only) because it is safer to keep piles of German bonds than piles of EUR, but because of the unorthodox ECB monetary policy. We certainly live in some very interesting times.

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