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added inflation calculation
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No.No.

As long as the original credit of 330 billion euros is not paid back, you can hardly argue that the interest should be considered as a profit. In fact, the starting time for interest payback has just been suspended by ten years, to 2033 - according to the German Department of Finance, this amounts to 34 billion dollars of unpaid interest.

Additionally, the Greens are falsely implying the interest directly goes to the German budget - not true, it remains on a frozen account:

Google Translate: When the SMP profits for 2014 were to be passed on to Greece, Prime Minister Alexis Tsipras, newly elected by the Greeks, and his financier Yanis Varoufakis had canceled the agreements from the then second aid package. The funds were kept in a blocked account by the ESM. The Greens, however, have given the impression that all these profits have flowed into the federal budget. The opposite is the case! The SMP profits were paid to Greece for three years. Only the years 2015 and 2016 are "lost" for the Greeks - by their own fault. And in 2016, Greece was promised that the country would be paid back the money in the blocked account, as well as all SMP profits starting in the 2017 financial year. That's exactly what the Eurogroup decided. Lying, without blushing, also is possible for the Greens!

Quick calculation

The ESM aides for Greece are currently at 176 billion euros. Germany takes over 27% of the ESM, So 47,5 billion are paid by Germany. The so-called profit of 2,9 billion is about 6% of this figure. Compare this to Eurozone inflation of 12% from 2010 to 2017. The profit does not even cover inflation losses.

No.

As long as the original credit of 330 billion euros is not paid back, you can hardly argue that the interest should be considered as a profit. In fact, the starting time for interest payback has just been suspended by ten years, to 2033 - according to the German Department of Finance, this amounts to 34 billion dollars of unpaid interest.

Additionally, the Greens are falsely implying the interest directly goes to the German budget - not true, it remains on a frozen account:

Google Translate: When the SMP profits for 2014 were to be passed on to Greece, Prime Minister Alexis Tsipras, newly elected by the Greeks, and his financier Yanis Varoufakis had canceled the agreements from the then second aid package. The funds were kept in a blocked account by the ESM. The Greens, however, have given the impression that all these profits have flowed into the federal budget. The opposite is the case! The SMP profits were paid to Greece for three years. Only the years 2015 and 2016 are "lost" for the Greeks - by their own fault. And in 2016, Greece was promised that the country would be paid back the money in the blocked account, as well as all SMP profits starting in the 2017 financial year. That's exactly what the Eurogroup decided. Lying, without blushing, also is possible for the Greens!

No.

As long as the original credit of 330 billion euros is not paid back, you can hardly argue that the interest should be considered as a profit. In fact, the starting time for interest payback has just been suspended by ten years, to 2033 - according to the German Department of Finance, this amounts to 34 billion dollars of unpaid interest.

Additionally, the Greens are falsely implying the interest directly goes to the German budget - not true, it remains on a frozen account:

Google Translate: When the SMP profits for 2014 were to be passed on to Greece, Prime Minister Alexis Tsipras, newly elected by the Greeks, and his financier Yanis Varoufakis had canceled the agreements from the then second aid package. The funds were kept in a blocked account by the ESM. The Greens, however, have given the impression that all these profits have flowed into the federal budget. The opposite is the case! The SMP profits were paid to Greece for three years. Only the years 2015 and 2016 are "lost" for the Greeks - by their own fault. And in 2016, Greece was promised that the country would be paid back the money in the blocked account, as well as all SMP profits starting in the 2017 financial year. That's exactly what the Eurogroup decided. Lying, without blushing, also is possible for the Greens!

Quick calculation

The ESM aides for Greece are currently at 176 billion euros. Germany takes over 27% of the ESM, So 47,5 billion are paid by Germany. The so-called profit of 2,9 billion is about 6% of this figure. Compare this to Eurozone inflation of 12% from 2010 to 2017. The profit does not even cover inflation losses.

Source Link
Cliff
Cliff
  • 734
  • 6
  • 11

No.

As long as the original credit of 330 billion euros is not paid back, you can hardly argue that the interest should be considered as a profit. In fact, the starting time for interest payback has just been suspended by ten years, to 2033 - according to the German Department of Finance, this amounts to 34 billion dollars of unpaid interest.

Additionally, the Greens are falsely implying the interest directly goes to the German budget - not true, it remains on a frozen account:

Google Translate: When the SMP profits for 2014 were to be passed on to Greece, Prime Minister Alexis Tsipras, newly elected by the Greeks, and his financier Yanis Varoufakis had canceled the agreements from the then second aid package. The funds were kept in a blocked account by the ESM. The Greens, however, have given the impression that all these profits have flowed into the federal budget. The opposite is the case! The SMP profits were paid to Greece for three years. Only the years 2015 and 2016 are "lost" for the Greeks - by their own fault. And in 2016, Greece was promised that the country would be paid back the money in the blocked account, as well as all SMP profits starting in the 2017 financial year. That's exactly what the Eurogroup decided. Lying, without blushing, also is possible for the Greens!