How Merkel’s Germany PROFITS from Greek debt misery with £1BILLION pocketed so far


As one of Athens’ biggest creditors, the eurozone’s largest brevity has banked millions in interest on loans to the heavily indebted state one more time the last two years alone.

A loan from Kreditanstalt für Wiederaufbau (KfW), the federal development bank, has raked in about £350million (€393m) from pursuit payments since 2010, according to the Süddeutsche Zeitung.

Politicians are now trying the interest is paid back to Greece.

It comes after Athens recently be informed a further £7.5bn (€8.5bn) as its latest bailout continues.

Greece debt crisis Germany MerkelGETTY

Germany has pocked millions in absorbed from Greek loans

Immature budget expert Sven-Christian Kindler said: «It may be legal for Germany to do money from the crisis in Greece.

«But it’s not legitimate in a moral sense of camaraderie.»

Jens Spahn, parliamentary state secretary in the Federal Ministry of Holdings, rebuffed the calls to refund the cash.

He said: «The Federal Government is currently not developing such a referral.»

Germany also benefits from the European Chief Bank (ECB)’s bond-purchasing programme in 2012 designed to help crisis hit countries kidney Greece.

Profits on Greek regulation bonds are given to central banks across the eurozone.

Last year, the sum for Germany amounted to £1bn (€1.147bn), while the believe for 2017 is £800m (€901m).

The EU expert of the Greens in the Bundestag, Manuel Sarrazin communicated: «The interest rate gains must finally be paid to Greece. It can not be that Wolfgang Schaeuble be deficient ins to rehabilitate the German budget with Greek interest profits.»

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