Where does the state get its bailout billions from?

Et are huge sums with which the state is currently trying to protect the economy from the consequences of the energy crisis. Alone the recently decided rescue of the energy company Uniper could devour 30 billion euros – for the time being. No one can predict how much money the captured gas importer and other energy companies will need in the coming months and maybe years.

How good that it is the KfW that can refinance itself on the capital market just as cheaply as the federal government, but does not have to concern itself with debt brakes and budgetary discipline. In the case of Uniper, too, the development bank, which is 80 percent owned by the federal government and 20 percent by the states, is once again providing the money for the rescue. After providing the group with at least 13 billion euros in the form of loans, it will now finance the capital increase for eight billion euros, buy up the remaining shares in the Finnish majority owner Fortum for 440 million euros and also pay back the billions it had previously rescued. Until all of this is wrapped up, KfW should also keep Uniper liquid.

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