FRANKFURT (MNI) – Germany’s maximum liability from the Eurozone’s
temporary and permanent rescue funds totals E310.3 billion, according to
a German Finance Ministry report obtained by German business daily
Handelsblatt.
The report, sent to the parliament’s budget committee, argues that
even this total liability is far less than the cost of a complete
break-up of the Eurozone, though it does not estimate the cost of such a
collapse, Handelsblatt reported.
The liability estimate includes credits of up to E285.3 billion for
the European Stability Mechanism — which is scheduled to become
operational in July — and European Financial Stability Facility, which
will continue to run parallel with the ESM.
Other liabilities added to the total include E15.2 billion from
Greece’s first aid package and E9.8 billion for aid stemming from the
European Union’s budget.
The estimate marks Germany’s total liability if all of the ESM and
EFSF’s remaining funds were needed.
— Frankfurt bureau: +49 69 720 142; email: ccermak@marketnews.com
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