German Risk Exposure to Greece Rises After Bailout, Welt Says
Germany’s risk exposure to Greece will rise after the debt-strapped country secured a second bailout package, Die Welt reported, citing its own calculations.
By 2014, outstanding loans and guarantees to Greece will amount to 51 billion euros ($68 billion), of which 31 billion euros are related to this week’s rescue package, provided it’s disbursed in full, the newspaper said. Germany had Greece- related risks of 30 billion euros before the second bailout, of which 10 billion euros will have to be written down by state- owned banks and public lenders as a result of the country’s debt restructuring, Welt said.
The calculation doesn’t include Greek bonds held by the region’s central banks, the newspaper said.
To contact the reporter on this story: Jana Randow in Frankfurt at jrandow@bloomberg.net
To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net
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