Germany won 2.9 billion euros from Greece's debt crisis

Germany won 2.9 billion euros from Greece's debt crisis

The loans and bonds Germany has been buying since 2005 to help Greece bring about 2.9 billion euros in Berlin, the German government has confirmed in response to parliamentary demand from the Greens ranks. This is a profit derived from a series of transactions, including the already closed program [...]

This is a profit derived from a series of transactions, including the already closed programme for the stock market, buying the programme for the purchase of bonds, which the European Central Bank had initiated (BQE) in 2010, while Germany and other eurozone members avoided Greece's default.

The amount also includes 400m euros in profits from the German State Development Bank KfW, approved in 2010.

Sven-Christian Kindler of the Green Party said the profits for Germany guaranteed a reduction of debt for Greece. He also added that it is unacceptable that the federal government “corrects balance in the budget of billions gained on interest rates from Greece”,

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