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€ 2,080,000,000,000 in debt

In the Rhein-Neckar-Zeitung of 13th April 2011 it was reported (on Page 2):

The level of German debt is growing alarmingly: The national debt rose in 2010 in comparison to the previous year by € 319 billion to the record level of € 2,080,000,000,000 (2.08 trillion), as reported by the Deutsche Bundesbank on Wednesday in Frankfurt. The German debt burden therefore increased from 73.5% to 83.2% of the gross domestic product (GDP) – and is therefore significantly above the level of 60% allowed under EU regulations. According to the information of the Bundesbank, this major increase in the level of debt reflects "comprehensive measures for the stabilisation of the financial market to the tune of € 241 billion". This refers to the bank rescue particularly in connection with the so-called "bad banks" of Hypo Real Estate (HRE) and WestLB.
This report goes to show that the press accepts figures clearly without questioning them. Instead of tamely repeating what was spouted at a press conference, it would have been more in the interests of the reader to report the national debt now topping € 10 trillion economic experts of the IMF forecast € 8.5 trillion in 2006, since this also includes indirect liabilities.
When the debt situation is seen in the light of day, the per-capita debt is not only € 21,000 to € 23,000 as stated in the media, but € 120,000 to € 125,000. The state is therefore simply transferring its debts; every child born is immediately saddled with € 120,000 of debt before it has taken its first breath. If the Federal Government were interested in providing accurate information, it would make the relevant announcement; if the media had anything but its own interests in mind, it would provide the genuine information.
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