Monday, August 19, 2013
How Germany Made a Killing on the Euro-Crisis
Europe's fiscal crisis has hammered much of the E.U. from Ireland to Britain, Spain, Portugal, France and Greece. Germany, however, has made out like a bandit.
The collapse of every nation around it made German debt much, much more attractive to investors looking for security. So much more attractive that Germany saved 41-billion Euros in interest charges. Sure, Germany put a lot of money into bailouts for countries like Greece but that totalled 599-million Euros to date.
0.6 billion they put out, 41-billion they saved. That sounds pretty good, doesn't it?