Germany finds €55bn. Heads will roll.

Perhaps only in Germany would there be a scandal if it turned out the country was in less debt than it thought. Hypo Real Estate, now a state-run bad bank, messed up sums, or added something twice, and reported being €55bn further in the hole than it actually was. Spiegel is headlining the article “Germany’s dumbest bank.” The finance ministry was allegedly told of the mistake at the beginning of the month, but now that the press has picked up on it, the Minister Himself will be calling in the bank’s boss for a rollocking.

 

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