Planet Money
8:59 am
Thu July 19, 2012

Wait, Investors Paid Germany To Hold Their Cash?

Monument to headier times: The euro logo outside the European Central Bank in Frankfurt. The International Monetary Fund has warned of possible deflation in parts of Europe.
Frank Rumpenhorst AFP/Getty Images

Originally published on Thu July 19, 2012 3:00 pm

On Wednesday, investors paid Germany to hold on to their money for a couple years.

That's right: Germany got to borrow more than 4 billion euros (about $5 billion), and instead of Germany paying interest to its lenders, the lenders are paying Germany. This a lot like Citibank paying you a smidgen to carry a balance on your credit card or to take out a loan (without also charging you interest).

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