The masks have fallen and megalomania knows no shame. Klaus Regling, Chief of multi-billion heavy “European Financial Stability Facility” (EFSF) admits that Germany makes profit out of the bailout to Greece.
BILD: The more countries take advantage of the rescue, the greater the cost to the other states. Is Germany the paymaster of the euro crisis ?
REGLING: Paymaster is wrong. It’s all about guarantees, not really flowing money. No one takes away something the German taxpayer. On the contrary. With its contribution to the rescue fund Germany will most probably make win. Alone from Greece that would be up to € 600 million per year because the Greeks have to pay a kind of interest rate to the bailout loans.
Unfortunately Regling does not reveal what will be the German profit out of the Irish bailout. Nor what will be the total profit in millions and billions for Germany after Chancellor Angela Merkels’ efforts to keep pushing the Euro into split and the PIIGS into default…
No wonder, Klaus Regling claims there is No Danger for the Euro! Germany will keep feeding the PIIGS!