The EU has saved almost a trillion euros due to the policy of the Central Bank

В ЕС сэкономили почти триллион евро благодаря политике Центробанка

Despite this, the ECB calls on European States to exercise caution.

EU countries saved nearly a trillion euros in the last 9 years thanks to the policy of low interest rates the European Central Bank. This was announced by the Federal Bank of Germany in the report presented Monday, July 24.

The major beneficiaries of this economic policy, allowing you to pay low interest rates for public debt service, was able to extract Italy from 2008 to 2016, the country has saved an amount equal to 10.5% of gross domestic product for the year 2016.

About the same percentage remained in the Netherlands, France, Austria and Belgium. Slightly more low indicators at Germany: Germany for the period retained 7.5% of GDP at the end of 2016.

“The continued policy of low interest rates in the future will play a positive role in public finances”, – said the expert of the Federal Bank.

However, they advise governments to prepare for changes in financial policy towards raising interest rates. They emphasize that ECB policy can’t be focused only on debt service.

Earlier it was reported that the loans to Greece and buying Greek bonds brought Germany the revenues of 1.34 billion euros.

According to the materials: