Euro Bailout Fund: Germans Pay Less Than Their Neighbors 

Germany pays less per person for the euro bailout than Luxembourg, Ireland, the Netherlands and Finland. Zoom
DPA

Germany pays less per person for the euro bailout than Luxembourg, Ireland, the Netherlands and Finland.

A new study shows that Germany contributes less per person to the permanent euro bailout fund than residents of several other countries in the European Union. Luxembourg, Holland and Ireland are among the nations paying more per capita.

Germany transfers less money per citizen into the European Stability Mechanism (ESM) than other euro-zone countries, SPIEGEL has learned. Although Germany contributes a larger portion of the permanent euro bailout fund than any other country -- 27 percent -- it also has the largest population and strongest economy in the European Union.

When the contributions of the ESM member countries are adjusted according to each country's respective population, Germany ranks fifth. That's the finding of a review of the Luxembourg-based euro fund authored by EU parliamentarian Elmar Brok, a member of Germany's conservative Christian Democrats.

According to his assessment, each German taxpayer contributed an average of €264.80 ($358.46) to the ESM over the past year. Luxembourg, by comparison, contributed €373 per person, with Ireland, the Netherlands and Finland also paying more per capita than Germany. The smallest adjusted contribution comes from Estonia, the newest member of the 17-country currency union.

EU member states have contributed some €48 billion to the rescue authority to date. The cash contribution of the ESM is expected to increase to a total of €80 billion by mid-2014, with the next installment due in October.

SPIEGEL/chw

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1. optional
danm 09/20/2013
Germany uses the fund less than anybody so why should it pay the most? The Netherlands made a lot of unwise residential loans that have put their banks in trouble. The Irish treated their banking system like a casino and it hurt them. Luxembourg's banking sector is huge as a percentage of it's GDP. Of course these countries should pay more per person because they are using the system more.
2. Misleading Headline and Analysis
stevej8 09/28/2013
According to the rankings, Germany apparently pays more (or no less than) than most of its (actual) neighbours, with only Luxembourg and the Netherlands paying more per capita. So why the generic claim "Germans Pay Less Than Their Neighbours"?
3. Response to optional
goconnor 10/07/2013
German gamblers who played heavily in the Irish casino banks had their losses fully paid by the Irish taxpayer.
4. Another response to optional
dcarroll 10/13/2013
It was German bankers/bondholders that bankrolled the Irish property bubble. They (German bankers/bondholders) flooded the Irish banking system with money - not caring one bit - as long as they got a good return (Wallstreet behaved the same way with subprime mortgages). All the bailout money that the Irish received went straight back to German banks the next day. Any chance of a minimum wage for Germany, or will it continue to be the China of Europe?
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