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Home > Diamond News Center > Diamond News > Financial News

Germany Saves Billions In Euro Crisis

22.07.12, 11:52 / Financial News
Although several European countries have found themselves mired in financial woes since the continent's banking debt crisis shattered investor confidence, Germany has only benefitted from the developments, as investment cash that may have gone to other EU countries is now funneled into the powerhouse economy, in the belief that its markets are far more secure and stable, CBS News reports.
 
In order to pay off their debts, southern European countries such as Italy and Spain must borrow cash, but to do so they are forced to incur high interest rates, as investors are hesitant to take a chance on what they see as high-risk economies. Germany, on the other hand, has been able to secure loans at record low rates, and in some cases, at even negative interest rates.
 
Germany, the country with the largest gross domestic product in the European Union, has also been the largest contributor to the eurozone rescue fund, according to CBS News.
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