Hessen loses four billion in interest business

In Hesse, with its financial metropolis Frankfurt, a scandal is taking its course that is costing the state’s taxpayers billions and is now causing financial experts and politicians to react in alarm. It is about interest rate transactions with which the country has made a loss of four billion euros. They were already put in place in 2011 by the then Finance Minister Thomas Schäfer (CDU).

However, they were still processed according to the model agreed at the time until last year. A group of opposition politicians in the Hessian state parliament and financial experts want that …


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