Option+. prints ≥ instead of being recognized as a shortcut Within the terminal, I used to be able to press Option+. in order to insert the last argument of the last command into the current prompt. On my new setup, pressing this combination simply prints "≥" (everywhere, not just in the terminal). I'm using US keyboard layout, but I'm on a German keyboard because I don't have any other at the moment.

The shortcut is incredibly useful, how do I get it back working?
If you're on a different system, it may very well be nothing more than your Terminal preferences being amiss. Check Settings | Keyboard and make sure that 'Use option as meta key' is checked.