Germany Could Lose €80 Billion if Greece Goes Bankrupt

Are you starting to see who has the most to lose in the Eurozone crisis? If so, you see why Greece might not go. If Greek can’t pay, the German banks cannot survive. Germany is also exposed to $72 trillion in derivatives whereas the nation’s GDP is roughly $2.7 trillion, to put it in perspective. The stakes are high and Greece might have the upper hand after all.

 

Head of Bundestag Committee on European Union Affairs predicts that Germany could lose billions of euros if Greece goes bankrupt.

Athens may not be able to return €80 billion of economic aid that it received from Germany in case of bankruptcy, Deutsche Welle wrote.

This was stated by the head of the Bundestag Committee on European Union Affairs, Gunther Krichbaum, during an interview with Leipziger Volkszeitung, due to be published on June 29.

…Greece has been holding talks with its international creditors on the settlement of the country’s multi-billion dollar debt, as the current bailout program expires on Tuesday. The latest round of talks ended Saturday with no agreement.

Full article: Germany Could Lose €80 Billion if Greece Goes Bankrupt (Sputnik News)

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