ECONOMY

Germany to profit from Greek bailout

Germany will most likely gain 600 million euros a year from its participation in the bailout package provided to Greece earlier this year, according to the head of the European Union’s bailout fund, Klaus Regling. In an interview with German newspaper Bild, Regling said that no one is taking anything from the German taxpayer and that the country will most likely gain by chipping in for Greece’s 110-billion-euro EU-IMF rescue package. ‘Just from Greece, Germany will make up to 600 million euros per year because Greece has to pay interest on the finance provided,’ he said. In April, Germany’s parliament approved a 22.4-billion-euro contribution to the Greek fund amid complaints in much of the local press protesting the burden shouldered by German taxpayers.