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Jan 22, 2025
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'We cannot have negative interest rates on one side and on the other having countries sinking under the burden of too high rates' (Photo: consilium.europa.eu)

Germany's free borrowing is 'destroying Europe'

by Valentina Pop, Brussels, May 23, 2012, 5:47:42 PM
1 co-observer

European Parliament chief Martin Schulz has launched a scathing attack on the German chancellor for promoting policies he says drive up the borrowing costs of other euro-countries, while Germany has just hit a record zero-percent interest rate on its bonds.

"Germany sold €4.6 billion worth of bonds at a record 0.0 percent interest rate today. Meanwhile, borrowing costs for other countries are soaring. This imbalance is destroying Europe," Schulz said on his way into the EU summit on Wed...

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'We cannot have negative interest rates on one side and on the other having countries sinking under the burden of too high rates' (Photo: consilium.europa.eu)

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