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April 25, 2014 / 25 Nisan, 5774
At a Glance

Posts Tagged ‘debt crisis’

US Shutdown Suspends Military Aid to Israel

Sunday, October 6th, 2013

The Obama administration’s $3.2 billion annual military aid has been suspended due to the U.S. government shutdown over the debt ceiling. The sum for 2104 was to be transferred to Israel on October 1, but this is not the first time budget crises in the United States have delayed aid to Israel.

“We are not talking about a specific step regarding Israel,” Israel’s Minister of Economic Affairs to the United States, Eli Groner, told Globes. “There is no budget for most government activities because there is no Budget Act or decision for a continuing resolution for ongoing financing for the coming financial year, and that includes the budget for foreign aid.

Rich Get Richer: Germany Saves $55 Billion on Crisis

Tuesday, August 20th, 2013

Germany is profiting from the debt crisis that’s debilitating most of their neighbors to the south and south-east, by saving more than 40 billion euros in interest on its government debt. Meanwhile, German treasury bonds doing fabulously well due to strong demand from investors seeking a safe haven, Spigel reported.

According to the German Finance Ministry, Germany will save a total of €40.9 billion (roughly $55 billion) in interest payments in the years 2010 to 2014, because of the difference between actual and budgeted interest payments.

On average, the interest rate on all new federal government bond issues fell by almost a full percentage point in the 2010 to 2014 period, according to the report, and Germany is a considered a very safe creditor in investors’ circles.

The rule of when it rains it pours seems to be working in Germany’s favor as well: it is seeing unprecedented high tax revenues from its robust economy, which has also led to a decline in new borrowing.

Between 2010 and 2012, the German government issued €73 billion (about $97 billion) less in new debt than it had planned.

On the other side of things, according to the Finance Ministry, the costs of the euro crisis for Germany have so far added up to €599 million, Spiegel reported.

This should be good news to all of us paranoids who fear a reawakening of the sleeping German militaristic giant who would try once more to conquer the world. Who needs to conquer the world when you can buy it for so much less?

Printed from: http://www.jewishpress.com/news/breaking-news/rich-get-richer-germany-saves-55-billion-on-crisis/2013/08/20/

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