Der Spiegel: Euro Crisis has saved Germany 40 Billion Euro

[Fodla32 3,692]

Germany has profited from the euro crisis to the tune of 41 billion euros in reduced interest payments. Strong demand for its debt has cut yields and made it cheaper for Germany to borrow. Meanwhile, the crisis has only cost Germany a mere 599 million euros thus far.

 

Germany is profiting from the debt crisis by saving billions of euros in interest on its government debt, which has enjoyed a steep drop in yields due to strong demand from investors seeking a safe haven.

 

According to figures made available by the Finance Ministry, Germany will save a total of €40.9 billion ($55 billion) in interest payments in the years 2010 to 2014. The number results from the difference between actual and budgeted interest payments.

 

Full article:

 

http://www.spiegel.de/international/europe/germany-profiting-from-euro-crisis-through-low-interest-rates-a-917296.html

 

 

[Lugh Ildánach 2,352]

While countries on the economic fringe, like Ireland, Spain etc. have had similar amounts, if not more, wiped off their economies and austerity imposed on them.  This is simply a transfer of wealth from the poor to the rich, from the colonies to the imperial power.