The estimated €100 billion Germany had saved since 2010 accounted for over three percent of its GDP, the report said. 3,772 Views. Germany said that all profits earned by central banks buying Greek debt since the crisis in 2010, would be returned to Greece. “Greece has saved hard and kept its commitments, now the Eurogroup must keep its promise,” he stressed. 3 Comments The bailout forced Athens to meet strict budgetary targets and receive frequent inspections. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. How he claimed 'opposing EU will solve nothing, How Macron's comments suggest France and Germany are 'at odds', How Nigel Farage was FINED for BRUTAL verbal attack against EU chief. After Greece’s second bailout programme was agreed in 2015, those repayments stopped, and Berlin accumulated the ongoing interest. Video, Dramatic footage shows flood destruction in India, 'Wake up, you've won a Nobel Prize' Video, The battle over what's taught in US history class. You should consider whether you can afford to take the high risk of losing your money. “Greece needs air to breath and room for manoeuvre for investments and fighting poverty in the country.". He also said it was a decision that had been taken by Eurogroup. The revenues came mainly due to purchases of Greek government bonds under the so-called Securities Markets Program (SMP) of the European Central Bank (ECB). "These savings exceed the costs of the crisis - even if Greece were to default on its entire debt," the study said. Did Joe Biden really say he was running for the Senate? Greek debt crisis: IMF wary of third bailout, France orders curfew in nine cities to battle virus. Read RT Privacy policy to find out more. This story is part of New Europe's Premium content. © 2020 BBC. “Contrary to all right-wing myths, Germany has benefited massively from the crisis in Greece,” said Greens household expert Sven Christian Kindler said and demanded a debt relief for Greece. 4XCube (4xC) Review – Is It a Good Forex Broker? But opting out of some of these cookies may have an effect on your browsing experience. What is Litecoin and What is Special About it? Since 2015, the German SMP profit share reportedly totalled €952m. The terms of the third bailout need to be reached by 20 August, when Greece's next debt repayment to the European Central Bank becomes due. Necessary cookies are absolutely essential for the website to function properly. Social trading – What is it and How does it work? The idea promoted by the group seems to be full of good intentions. The bonds of countries such as the United States, France and the Netherlands had benefited "to a much smaller extent. Each time investors got bad news about Greece, they rushed to the ‘safe haven’ of Germany, with the interest rates on German government bonds falling, according to the study from the private, non-profit Leibniz Institute of Economic Research, Agence France-Presse reported Monday. Germany said that all profits earned by central banks buying Greek debt since the crisis in 2010, would be returned to Greece. 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