The lower the interest, the better for the state: In low interest rates are the cost of government bonds in the basement. So the German government has saved nearly 120 billion euros since 2007.
The German State by the decline in interest rates since the year 2007, about 120 billion Euro saved. This comes from unpublished calculations of the Bundesbank shows that present the “Welt am Sonntag”
A year ago the financial and Euro crisis, the average return on German debt securities, such as government bonds, to 4.3 percent. In 2013 it was only 2.6 percent after Federal Bank details. The main reasons are the low interest rate policy of the European Central Bank (ECB) and the flight of investors in the supposedly safer German bonds.
But in 2012 did the fall in interest rates since 2007, the general government expenditures according to the calculations of the Federal Bank economists saving of just over 28 billion euros, reports the newspaper “Welt am Sonntag”. 2013 there were approximately 37 billion euros even. Overall, the state saved in the past six years, 120 billion euros.
Alone in 2012 was Finance Minister Wolfgang Schäuble in this way $ 20 billion well. In 2013 there were only 25 billion euros, which would have been payable at a constant interest rate for debt service
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“Falling interest rates are the main reason for the sum in relatively good financial position,” says René Geissler, a financial expert of the Bertelsmann Foundation. Similarly, it looks Lars Feld, a member of the five-member Advisory Council: “Federal, state and local governments consolidate their budgets currently mainly due to the low interest expenditure and the low income development,” says the professor of economics
Sooner or later will. unwillingness to avenge save. “The overall conclusion is that the public sector in Germany are in a good weather,” says Georg Milbradt (CDU), a trained financial expert who in Saxony an austerity traversed as finance minister and prime minister, benefited from the state to this day. “For a change of position in the direction of long-standing interest mean the current fiscal policy is not sufficient to reach the debt ceiling.”
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