Austria has Earned More than €100 Mln in Interest from Greek Bailout



money Austria has received 101.73 million euros in interest on loans given to Greece under the first Greek bailout program, according to figures released by the Austrian Finance Ministry, the country’s press agency APA said on Tuesday.

This is the amount that the Greek government has transferred to Austria until this time for the country’s contribution to the first financial aid package to Greece in 2010, amounting to 1.56 billion euros, while Vienna has also received additional guarantees amounting to 4.3 billion euros for loans in the framework of the European Financial Stability Facility (EFSF).

Figures given to APA by the Austrian central bank, meanwhile, show that Austrian banks have largely pulled out of their investment in Greece in recent years, with their exposure falling to just 153 million euros by the end of 2014.

(source: ana-mpa)


1 COMMENT

  1. With an interest rate of 4%, of course those countries are making a large profit on our debt. They knew we couldn’t pay this debt back and that we’d eventually default. This is probably their “firewall” from a Grexit: cover the losses in loan profits.