Γιατί η Γερμανία δεν θέλει το Ευρωομόλογο (τι θα της κοστίσει), με απλά λόγια.

Από τον Πόρτα – ΠόρταWhat will Eurobonds cost?Position of the Ifo Institute of 17 August 2011Συμπερασμα… μετα από αναλυσεις… μην κουρασουμε…Even in the case of the proportionate liability for the eurobonds on which we based our calculations, the Ifo Institute strongly advises against the introduction of eurobonds. Even if Europe had the strength to form a federal state, it would make no sense to communitarise the liability for government debt that has been taken on. Even in the United States of America, which exists as one country, one state is not liable for the other. The principle of liability is the basic principle of any rational economic activity and one of the cornerstones of a market economy. Whoever abandons this places Europe’s future in jeopardy.Table: Calculation of the additional interest costs for Germany after the introduction of eurobonds:  Yields in the periods:Average yields for the euro areaEnd of July 2011January–July2011Two-year bonds4.163.17Five-year bonds4.374.07Seven-year bonds4.724.39Ten-year bonds4.594.41   Yields for GermanyTwo-year bonds1.161.56Five-year bonds1.722.34Seven-year bonds2.392.75Ten-year bonds2.563.08   Yield differences between Germany and the euro-area averageTwo-year bonds3.001.62Five-year bonds2.641.73Seven-year bonds2.331.64Ten-year bonds2.031.34Difference calculated for 7.5-year bonds2.281.59   Additional interest costs for Germany on the basis of the interest difference for 7.5-year bondsSovereign debt 2010 in bn euros20802080Sovereign debt 2010 as % of GDP83.283.2Additional interest burden as % of GDP1.901.32Additional interest burden in relation to GDP in bn euros4733Filed under: ΕΠΙΚΑΙΡΟΤΗΤΑ