Germany estimated to have made €9bn profit out of crisis

EU Observer ^ | 2011.11.09 @ 16:29 | Valentina Pop

[Olog-hai]

Germany has profited to the tune of €9 billion (US$12.2 billion) from the eurozone crisis over the past two years, an ING economist has calculated for EUobserver, as investors flock to "safe" but near zero interest rate bunds while southern euro-countries struggle with unsustainable rates.

"For a long while, the German economy has been one of the few beneficiaries of the sovereign debt crisis. In fact, the German government can get market funding almost for free," Carsten Brzeski, a senior economist with the ING bank in Belgium told this website. …

[Hoplite]

Doesn’t seem to mention the tens of billions of losses the Germans are taking as their weaker Euro neighbors fail to pay off bonds Germans bought.

[SunkenCiv]

Thanks Olog-hai.

Imagine -- earning a living off lending money! Shariah law can't come soon enough for Europe! /s

• Angela Merkel: EU needs more power to rein in spending
• Yes, all the news about Prime Minister Berlusconi is pure puff and nonsense.