ECONOMY

Germany earned 380 mln euros on first Greek bailout, report says

Germany earned 380 million euros ($502.83 million) in interest on the loans it paid to Greece under the first bailout for the debt-strapped country, according to Finance Ministry documents obtained by Reuters.

Berlin’s contribution to the 2010 rescue package for Greece amounted to 15.17 billion euros, on which the Greek government paid interest ranging between 3.423 and 4.528 percent.

As of the end of 2011, Germany had earned 380 million euros on the loans. News of the windfall may help quell some of the mounting public frustration at having to help struggling Greece, portrayed by some in Germany as a «bottomless pit».

[Reuters]