Greece will save up to a whopping 336.7 billion euros from recently granted debt relief measures, the German daily “Bild” reported this week, basing the astronomical figure, as it said, on calculations by a Hamburg economics professor.
“Out of the sum, 52.1 billion euros correspond to Germany. The massive savings are the result of assistance programs by Euro-area countries, and the debt haircut of 2012. Athens has received total aid by Eurozone countries of 272.7 billion euros in the form of ‘subsidized loans’,” Bild writes.
The German mass daily cites the calculations of Helmut-Schmidt-Universität professor Dirk Meyer, whereby the average maturity on loans extended to Greece in the second bailout is 42.5 years, with interest rates imposed as of 2032, and with payment to commence in 2032.The report also points to the return of profits generated by interest-bearing Greek bonds, which were held by Eurozone members, with on the very recent debt relief measures reaching 47.9 billion euros for Greece, Bild said.
In a related development, Germany’s Bundestag on Friday approved of last week’s Eurogroup decisions – crucially linked with the Greek program.
