• Germany finds extra 55bn euros after accounting error
    49 replies, posted
[QUOTE]Germany has found itself 55bn euros ($78bn; £48bn) richer after discovering an accounting error at Hypo Real Estate (HRE), the troubled bank it nationalised in 2009.The country now expects its ratio of debt to GDP to be 81.1% for 2011, 2.6 percentage points lower than previously forecast, the finance ministry said. The miscalculation was at the so-called bad bank of HRE, FMS Wertmanagement. The discovery was made earlier this month but only announced on Friday. FMS will contribute about 161bn euros to Germany's debt this year, compared with 216.5bn in 2010. [B]Cutting back[/B]HRE faced a severe liquidity shortage in the wake of US banking giant 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. This summer, the European Commission approved 175bn euros of aid to HRE in return for major cuts in its activities. HRE will phase out all of its businesses except in its core bank Deutsche Pfandbriefbank.[/QUOTE] [URL]http://www.bbc.co.uk/news/business-15503097[/URL]
How the hell could you even.
damn
Way to go. Someone is going to lose their job over this.
Bit like when you find money down the back of the sofa.
$78 billion? Must have forgot to carry the 1.
It's funny how one mistake when accounting can ruin everything.
And I thought Germans were the best at everything, they've totally gone soft without the Nazi party in control.
Mother of fucking christ
well they fixed their economy!
No longer need our bailout now huh?
can we have one of these over in America? preferably for a couple trillion?
[QUOTE=Parakon;33019099]And I thought Germans were the best at everything, they've totally gone soft without the Nazi party in control.[/QUOTE] [img]http://www.facepunch.com/avatar/185765.png?garryis=awesome[/img]
Man I wish I would find $78 billion at the beginning of winter when I get my coats out of the closet I only found $5 though :(
[QUOTE=OrionChronicles;33019335]can we have one of these over in America? preferably for a couple trillion?[/QUOTE] In recent news a cavern filled to the brim with $100 bills that spans all the way from New York City (East Coast) to the Rocky Mountain range, the total estimate amount is: $100,955,128,532,500
[QUOTE] Hypo Real Estate ([URL="http://en.wikipedia.org/wiki/Holy_Roman_Empire"]HRE[/URL]) [/QUOTE] Dat acronym.
[QUOTE=tedfinly;33018425]Bit like when you find money down the back of the sofa.[/QUOTE] Pretty big sofa.
[QUOTE=Shiftyze;33019252]No longer need our bailout now huh?[/QUOTE] Please dude, you live in Hong Kong.
[QUOTE=Megafanx13;33019545]Please dude, you live in Hong Kong.[/QUOTE]No, in Guangzhou, China. I don't live in Hong Kong yet for college. Are you taking notes on my whereabouts?
it's like finding 10 quid in your pocket from jeans you last wore weeks ago
[QUOTE=thisispain;33020206]it's like finding 10 quid in your pocket from jeans you last wore weeks ago[/QUOTE] Thats the only way i know i've put on my brothers jeans :v:
[QUOTE=ratman_122;33019365]Man I wish I would find $78 billion at the beginning of winter when I get my coats out of the closet I only found $5 though :([/QUOTE] I once found like a year old bag of weed.
[QUOTE=Shiftyze;33019608]No, in Guangzhou, China. I don't live in Hong Kong yet for college. Are you taking notes on my whereabouts?[/QUOTE] How's the dog meat?
Wow, I only thought this type of mistake was only in fiction. Man, imagine their faces when they found out.
Blame these two guys: [IMG]http://img443.imageshack.us/img443/5066/office3l.jpg[/IMG]
[QUOTE=Hidole555;33019422]Dat acronym.[/QUOTE] explain please?
Fuck yes, these are good times for Norway. Germany owes us 7 billion Euros.
Shit, they found my Nazi Gold
[QUOTE=farmatyr;33021556]Fuck yes, these are good times for Norway. Germany owes us 7 billion Euros.[/QUOTE] Damn it Norway, share some of that gold with your fellow scandinavians. First oil, and now this! :argh:
[QUOTE=Gordon Frohm;33020835]explain please?[/QUOTE] Holy Roman Empire.
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