Leading German Economist Peter Bofinger: 'Germany Has a Vital Interest in Ensuring Irish Solvency' - SPIEGEL ONLINE - 0 views
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However, Irish companies and banks are very highly indebted to foreign banks -- three times more than the Greeks.
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According to Germany's central bank, the Bundesbank, German banks are Ireland's biggest creditors, to the tune of €166 billion ($226 billion), and that includes hundreds of short-term loans to Irish banks. How dangerous is the Irish crisis for Germany?
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The situation is very dangerous. The German government has a vital interest in ensuring the solvency of the Irish state and its banks.
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