Germany, which since the beginning of the economic and financial crisis has had a railway line against short prom dresses at msdress.co.uk, has won about 100,000 million euros in the same, according to a study released Monday.
“This savings outweigh the costs generated by the crisis, even if Greece does not repay its entire debt,” said the study by the economic research institute Leibnitz (IWH). “Therefore, Germany has benefited from the crisis in Greece,” he concluded.
This sum represents money that Germany has saved in interest payments due to the Greek crisis. Usually, facing a crisis, investors seek a safe haven for their money, and Germany is “disproportionately benefited” from this effect during the Greek debt crisis.
“Whenever financial markets were faced with bad news on Greece in recent years, interest rates on German government bonds fell, and whenever there was good news, they went up.”
Germany has adopted a firm tone against the Greek crisis, demanding tough spending cuts and economic reforms in exchange for agreeing to a new loan from international creditors. The estimated 100 billion euros sum that Germany has saved since 2010 represents 3% of its GDP, according to the institute. The bonds of other countries including the United States, France and the Netherlands, have also benefited, but “a much lesser degree.”