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31 Oct 2011
A FORTUITOUS accounting error will make Germany €55bn richer than it expected this year, after discovering the mistake at nationalised bank Hypo Real Estate.
The discovery knocks 2.6% off Germany's debt-to-GDP ratio, pushing it down to 81.1%, the BBC reports.
Further reading
Nationalised in 2009, HRE received €10bn in capital injections and £145bn liquidity guarantees, while the European Commission recently approved €175bn aid in return for a major cut in HRE's activities.
It will now phase out all its activities outside its core bank, Deutsche Pfandbriefbank.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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