European Central Bank made almost €8bn from Greece’s financial crisis

https://www.rt.com/business/406359-ecb-profits-greek-debt/

Banks are there to make money - that is what they do best, after all.

The article from RT News tells us how the ECB has made a large amount of profit from Greece's financial crisis and that the International Monetary Fund is doing so, too. It doesn't go too much into the details, and it seems that the "profit" is actually the full amount of the interest payments, but it does give us this:

In 2016, the ECB collected more than €1.1 billion in interest payments on the nearly €20 billion worth of Greek bonds it holds

This tells us that the profit is way ahead of the rate of inflation and could have been used to help the Greek people instead. Instead, the profits will be distributed to the other Eurozone banks to do with as they feel fit.

The article does say that:

Eurozone members initially agreed to hand any interest back to the Greek central bank as a point of EU solidarity

but that later this decision was reversed.

(Picture: pixabay.com)