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Saturday, December 8, 2012

Germany lost billions

Aid for Greece
The Greece aids also have an impact on the budget of Germany. The government waived interest income, many billions lost. The Finance Minister justifies the step.Through the new aid for Greece to escape the federal budget in the coming years revenues of several billion euros. Only by waiving the interest income from Greek government bonds at the state development bank KfW, Germany has an annual revenue shortfall of around 130 million euros, said Finance Minister Wolfgang Schäuble (CDU), the "Bild am Sonntag"."

We have had interest income from Greece and we'd ECB profits from their previous purchase program -. Also Greek - government bonds," said Schaeuble. Germany had promised in the wake of the end of November decided utility, provisionally to waive interest income from Greek debt securities and gains from programs of the European Central Bank (ECB) to buy Greek government bonds.

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