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ECB monetary easing hurts German savers but heals state finances
Germany's regions have had their debt servicing costs cut by an average of 40 per cent in eight years, says S&P Global
Add BT as a preferred sourcePublished Sun, Jul 9, 2017 · 09:50 PM
London
MANY Germans see the European Central Bank's (ECB) bond-buying scheme and interest rates cuts as subsidising indebted southern eurozone members at the expense of northern savers, but it has also transformed the finances of Germany's regions.
The central bank started cutting interest rates in 2008 to help the economy after the global financial crisis and gathered pace as a series of debt crises hit the eurozone in 2011 and 2012.
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