Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

EAA Confounds Schaeuble’s Debt Reduction Plan, Handelsblatt Says

Erste Abwicklungsanstalt, the so-called bad bank formed to wind down assets of German state-owned lender WestLB, will confound Finance Minister Wolfgang Schaeuble’s plan to reduce the country’s debt load, Handelsblatt newspaper said, citing people it didn’t identify.

EAA expects WestLB to transfer a portfolio of about 100 billion euros ($132 billion) in the next months, of which about 50 billion euros will be added to the government’s debt, the newspaper said.

The amount isn’t included in a debt-reduction plan that Schaeuble sent to European authorities in Brussels and may boost Germany’s debt load to 84 percent from 82 percent of gross domestic product this year, Handelsblatt said.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.