Tuesday, September 6, 2016

Black Zero – Schäuble saving billions by Draghi’s monetary policy – Süddeutsche.de

  • On Wednesday the Bundestag begins with the discussions for the 2017 budget – an election year
  • It is already clear. The German Finance benefited in recent years significantly from the low interest rate policy of the ECB. ” / li>
  • between 2008 and 2015 the Ministry of Finance by the low interest rates were well released 122 billion less on debt servicing.

Since then, due to the global financial and debt crisis, the interest in the cellar, groan savers – and enjoy the debtor. One of the greatest of them to have a particularly good mood have: Wolfgang Schäuble. The Minister of Finance had to spend less than previously scheduled for debt service namely 2008-2015 good 122 billion euros. The findings of a parliamentary inquiry of the Greens in the federal government, from which the Handelsblatt quoted

Schäuble would thus -. Not surprisingly – one of the main beneficiaries of the extremely low interest rates and hundreds billion dollar bond purchase program of the European Central Bank (ECB). Their chief Mario Draghi will actually boost, investment and encourage lending to the measures the economy. In fact, mainly the euro countries can borrow much cheaper – such as the federal government and use this if possible to rehabilitate financially

To:. The paid according to the data in the past nine years only 253 billion euros in interest to its creditors. The financial plans, the Ministry of Finance, however, had factored in over the years interest payments of more than 375 billion euros. However, these plans are formed each with a lead time of four years – how much would be the actual stresses, therefore was in the excited times of banking and Greece rescue, European Economic and Proposed referendum on United Kingdom membership of the European Union worries difficult to predict

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interest savings as high as the Soli

at the same time in about shrank Schäuble interest burden but actually in recent years: Only in comparison between 2008 and 2015 by almost half, just under 20 billion Euro in the year. That is, the federal government saved last year again as much in interest you would like it has taken a total of the solidarity surcharge.

The figures are likely to be an important issue this week, because in Berlin starts the Bundestag with the deliberations for the 2017 budget – an election year. By the end of November, the budget should be. The SPD calls for, among other things further 3,000 jobs at the federal police, also the east-west-pension adjustment should be financed by taxes. The leaning Schäuble from previously. Because after the government bill, the federal government should refrain care for refugees and further investments in the coming years on new debt and maintain a balanced budget with the “black zero” by 2020, despite additional expenditure.

That this much has to do with the austerity Schäuble and the debt ceiling, doubted last but already the union-affiliated Institute for macroeconomic research (IMK). Decisive are the low lending rates, the continuing upswing, rising employment and increasing workers’ incomes have been, according to the researchers


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