Errore contabile "alleggerire" il debito della Germania
Λογιστικό λάθος, ύψους 55,5 δισ. ευρώ, «ελαφραίνει» το δημόσιο χρέος της Γερμανίας, πυροδοτώντας ταυτόχρονα σφοδρές επικρίσεις από την σοσιαλδημοκρατική αντιπολίτευση σχετικά με τον τρόπο λειτουργίας του υπουργείου Οικονομικών.
Errore contabile, pari a 55,5 miliardi di euro, "alleggerire" il debito della Germania, mentre scatenando feroci critiche dei democratici all'opposizione sociale su come il ministero delle Finanze.
Όπως ανακοίνωσε το υπουργείο, ο εντοπισμός και η συνεπακόλουθη απάλειψη λανθασμένης λογιστικής εγγραφής ύψους 55,5 δισ. ευρώ σε προβληματική τράπεζα υπό κρατικό έλεγχο, θα υποβοηθήσει στη μείωση του δημόσιου χρέους.
Come annunciato dal ministero, l'identificazione e la successiva eliminazione di errate rilevazioni 55500000000 € a banche in difficoltà sotto il controllo dello Stato, contribuirà a ridurre il debito.
Η αποκάλυψη του λάθους, που άφησε άναυδα τα μέσα μαζικής ενημέρωσης, αφορά σε διπλή εγγραφή χρέους της "FMS Wertmanagement", αποκαλούμενης και "κακής τράπεζας" που δημιουργήθηκε μετά την κατάρρευση και κρατικοποίηση της "HRE Bank", το 2009.
La scoperta dell'errore, ha lasciato stupiti i media, per registrare un debito doppio "Wertmanagement FMS", e la cosiddetta "bad bank" creata dopo il crollo e la nazionalizzazione di "banca HRE", nel 2009.
Σύμφωνα με το υπουργείο Οικονομικών, η απελευθέρωση των σχετικών κονδυλίων συνεπάγεται τη μείωση του δημοσίου χρέους της Γερμανίας, ως ποσοστού επί του ΑΕΠ της χώρας, στο επίπεδο του 8,1% από 8,3%,.
Secondo il Ministero delle Finanze, il rilascio dei fondi comporta la riduzione del debito pubblico in Germania, in percentuale del PIL, il livello di 8,1% da 8,3%.
Όπως διευκρινίζεται στην ίδια ανακοίνωση, το λάθος έγινε όταν λογιστές της τράπεζας αντί να προσθέσουν τα σχετικά κονδύλια, τα αφαίρεσαν.
Come specificato nella comunicazione, l'errore è stato fatto quando i contabili della banca invece che aggiungere elementi rilevanti, rimosso.
Εντονη ήταν η κριτική του Σοσιαλδημοκρατικού κόμματος για τον τρόπο με τον οποίο λειτουργεί το υπουργείο: «Δεν πρόκειται για κανένα ποσό αφήνει η νοικοκυρά μέσα στη γυάλα με τα μπισκότα και στη συνέχεια το ξεχνά», παρατήρησε χαρακτηριστικά ο κοινοβουλευτικός εκπρόσωπος των Σοσιαλδημοκρατών Τόμας Όπερμαν.
C'era forti critiche del Partito Social Democratico così che funziona nel ministero: "Non c'è quantità lascia la casalinga nella ciotola con i biscotti e poi te ne dimentichi", ha osservato caratteristiche del sociale parlamentare democratico Thomas Oppermann.
Fonte: www.athina984.gr
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non si capiva molto....
Germany "Raises" €55.5 Billion, or 1% Of Its Debt/GDP Ratio, Thanks To Derivative "Accounting Error"
As usual, the most surreal news of the day, perhaps week, is saved for Friday night, when we learn that Germany has magically raised over a quarter of its total EFSF obligation of €211 billion by way of what is essentially magic. The Telegraph reports that "
Germany is €55bn richer than it previously thought because of an accounting error at state-owned bank Hypo Real Estate Holding. The mistake at "bad bank" FMS Wertmanagement, happened because
collateral for derivatives wasn't netted between the asset and liability side, an FMS spokesman said. As a result, FMS will only contribute about €161bn to Germany's debt this year, down from €216.5bn in 2010." Another way of representing the error is that it is equal to a ridiculous 1% of the country's debt to GDP ratio. "
Germany's 2010 debt-to-GDP ratio also drops, to 83.2% from the previous 84.2%, a finance ministry spokesman said." In other words, the modern world, best characterized by the imploding fiat ponzi, has discovered a way to raise capital (electronic, naturally) courtesy of CDS bookmarking errors. And now, we have seen it all.
Since money is fungible, especially at the sovereign level, the "unlocked" capital which fortuitously was in a favorable netting direction (and we
can't wait to get our hands on the detailed explanation of just what the error was that resulted in €31 in 2011 and €24.5 billion in 2010 of additional "debt" issuance going to fund FMSW, also known as Germany's bad bank, and now effectively being unwound)
can and will used to plug bad Greek debt shortfalls at any other wards of the state which has material exposure to bad debt. Such as partially nationalized Commerzbank, which as we
noted yesterday by way of German FAZ, is dumping all of its PIIGS (and
potentially US) bond exposure into a bidless market with the same urgency as US banks offloading subrpime paper in the summer of 2007, in order to preserve liquidity and raise capital. Most importantly, this is also money that amounts to over 25% of the German obligation toward the EFSF of €211. So while one can dream up ridiculous stories of €55 billion accounting errors, the reality is that the
source does not really matter: after all these are merely electronic ones and zeros. And the next time Germany needs to "raise some electronic cash" to fund even greater PIIGS related shortfall, it will simply find even greater "accounting errors" which magically give justification to shift a liability to an asset, and thus validate what is effectively non-sterilized printing of euros at the national level! Is this merely an appetizer of things to come, and an explanation of how Europe will "fund" the hundreds of billions in capital shortfall once the PIIGS start falling left and right like dominoes, tipped over by what is now the Greek default of October 27, 2011? Of course not: certainly this is nothing more than an innocent accident (for €55 billion) and anyone claiming otherwise is a conspiratorial anarchist.
More from the
Telegraph on this stunning development:
The ministry spokesman didn't directly comment on the accounting error, but said "the German government welcomes the substantial progress FMS Wertmanagement has made in reducing the portfolio it took over from Hypo Real Estate a year ago".
"In addition, it is positive that total assets, which include derivatives and hedging transactions, could be reduced by more than €30bn, or almost 10pc, compared with the 2010 results," the ministry spokesman added.
BBC has more:
The discovery was made earlier this month but only announced on Friday.
HRE faced a severe liquidity shortage in the wake of Lehman Brothers' bankruptcy in 2008.
The German government provided the bank with capital
injections of 10bn euros and liquidity guarantees amounting to 145
billion euros before nationalising it.
And the truly good news is that with roughly one quadrillion in derivatives floating out there, the bulk of which nobody has any clue what they are, where they are, and what they are collateralized by, it means that the world is free to find derivative-based "errors" which can magically fund well over two times the global debt which
at last check was about $500 trillion. At the end of the day, no one is the wiser: after all this is merely the creation and destruction of electronic ones and zeros in the span of nanoseconds in one computer's random access memory.
