Now, as it happens, Germany has a paragraph on its criminal code, § 103, that prohibits insulting foreign heads of state. Thus, prosecution was initiated. However:
1. The case was dropped.
2. In fact, legislative proceedings to drop § 103 are on their way.
So, I'm not too worried about the freedom of political speech in Germany. Holocaust denial and nazi propaganda are prohibited, for historical reasons, but apart from that political speech is free and vigorous.