RBB covered this in the AM, and it's a significant amount of cash....66-billion Euro. And here's the chief problem....it's expanding.
Every second that passes.....another 35 Euro is added to the pile of debt.
Somewhere around 1995, it (the city) passed the 20-billion Euro point.
About twenty years ago, they came to realize that a fifth of every Euro collected via taxation....goes to the interest requirements.
What'll eventually happen? I suspect the city will reach a point by 2030 where the amount is near 100-billion Euro, and they go to ask the Bundestag to 'gift' them 50-billion Euro to climb out of the hole. I don't think the Bundestag will cooperate, and there's going to be some 'Jesus' moment where the city has to collapse its budget for ten years, and suffer to a great extent.
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