Greece's Default To Cost Germany €45 Billion
Greece's default on the remainder of its debt would cost Germany alone €45 billion, said Matthias Kulla, an economist at the Centre for European Politics (CEP), Die Welt reported.
That sum has been calculated by counting Germany's share of the loans to Greecethat was previously disbursed from the first and second aid package.
Mr. Kulla warned that Germany could end losing more even if the other euro crisis countries fulfill their bailout obligations, according to the report.
Greece's default on the remainder of its debt would cost Germany alone €45 billion, said Matthias Kulla, an economist at the Centre for European Politics (CEP), Die Welt reported.
That sum has been calculated by counting Germany's share of the loans to Greecethat was previously disbursed from the first and second aid package.
Mr. Kulla warned that Germany could end losing more even if the other euro crisis countries fulfill their bailout obligations, according to the report.
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