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Crisis Saves Germany About $100 Billion, Kiel Institute Says

German Chancellor Angela Merkel’s government has saved 80 billion euros ($106 billion) since the start of the financial crisis as a result of declining bond yields, the Kiel-based Institute for the World Economy said.

Interest payments last year were about 10 billion euros lower than they would have been under a “benchmark scenario” that uses average yields in the decade before the crisis, the institute said in a report. This year’s savings for the federal government will amount to about 13 billion euros, it said. The period covers 2009 to 2013.