Bloomberg News

Germany’s Debt Rose 390 Billion Euros on Crisis, Passauer Says

August 31, 2012

Germany’s debt grew by 390 billion euros ($490 billion) on costs related to banking bailouts and payouts to indebted euro-area countries, Passauer Neue Presse reported,

Costs related to bank bailouts increased debt by 322.5 billion euros and funding to help Greece, Portugal and Ireland added 67.5 billion euros, Passauer said, citing a German government response to a request in parliament by the Left Party.

The rescue package for Spain wasn’t included in the estimate because terms of the bailout haven’t been completed, the newspaper reported, citing Hartmut Koschyk, state secretary at the Finance Ministry.

To contact the reporter on this story: Annette Weisbach in Frankfurt at aweisbach1@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net


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