German Fin Min Schäuble: Greek New Aid Deal To Cost Germany €2.7bn In The Long Term
From efxnews.com
Greece's new provisional aid deal with its international creditors will likely cost Germany €2.7 billion in the long term, said German Finance Minister Wolfgang Schäuble in an interview with Bild am Sonntag. Last week, the German Bundestag approved the new aid to Greece adding a burden of €730 million on the German federal budget for 2013. However, by just waiving the interest gains from Greek government bonds at KfW Banking Group, German government-owned development bank, Germany had technically admitted an annual revenue shortfall of around €130 million, he added. "I can not say conclusively how much the total cost w ...
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