Germany estimated to have made €9bn profit out of crisis

Germany has profited to the tune of €9 billion from the eurozone crisis over the past two years, an ING economist has calculated for EUobserver, as investors flock to "safe" but near zero interest rate bunds while southern euro-countries struggle with unsustainable rates.

"For a long while, the German economy has been one of the few beneficiaries of the sovereign debt crisis. In fact, the German government can get market funding almost for free," Carsten Brzeski, a senior economist with...