Bundesbank’s Profit Shortfall to Stall Debt Reduction, WiWo Says

The Bundesbank’s annual profit may fall 800 million euros ($1.1 billion) short of planned targets this year, keeping the German government from rolling back old debt, Wirtschaftswoche reported, without citing anyone.

At 2.2 billion euros, the German central bank would miss the 3 billion-euro profit target in the government’s budget, according to Wirtschaftswoche. Any gains above that level would allow the government to reduce 17.6 billion euros of debt piled up during the 2009 credit crisis, the magazine said.