The Hundred-Billion-Euro Bomb Euro-Zone Central Bank System Massively Imbalanced

More than a year ago, German economist Hans-Werner Sinn discovered a gigantic risk on the balance sheets of Germany's central bank. Were the euro zone to collapse, Bundesbank losses could be half a trillion euros -- more than one-and-a-half times the size of the country's annual budget.
One economist called his counterpart Hans-Werner Sinn's analysis 'brilliant.'

One economist called his counterpart Hans-Werner Sinn's analysis 'brilliant.'

Foto: DPA
The Bundesbank's claims are set off by massive debts in crisis-stricken euro-zone countries.

The Bundesbank's claims are set off by massive debts in crisis-stricken euro-zone countries.

Foto: SPIEGEL ONLINE
Bundesbank claims are rising -- as are the debts of crisis-stricken euro-zone countries.

Bundesbank claims are rising -- as are the debts of crisis-stricken euro-zone countries.

Foto: SPIEGEL ONLINE
Translated from the German by Ella Ornstein
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