Berlin Owes A Small Town A Fortune On A 450-Year-Old Debt : News Photo
Berlin Owes A Small Town A Fortune On A 450-Year-Old Debt : News Photo
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Berlin Owes A Small Town A Fortune On A 450-Year-Old Debt

MITTENWALDE, GERMANY - JULY 25: Mittenwalde, Germany's town historian Vera Schmidt (L), who discovered a debt certificate from May 28, 1562, poses with Mittenwalde's Mayor Uwe Pfeiffer on July 25, 2012 in Mittenwalde, Germany. Mittenwalde, a town with approximately 2,000 inhabitants located about 30 kilometers southeast of Berlin, recently found the certificate, in which Mittenwalde loaned Berlin 400 guilders (gold coins used as currency). As the debt came with an annual six percent interest rate, Berlin would owe Mittenwalde 11,200 guilders today, equivalent to about 112 million euros (137 USD million), no small repayment for the German capital, itself currently 63 million euros (76 USD million) in debt. With compound interest, the figure would run into the trillions. (Photo by Adam Berry/Getty Images)
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Details
Restrictions:Contact your local office for all commercial or promotional uses.
Credit:Adam Berry / Stringer
Editorial #:149241811
Collection:Getty Images News
Date created:July 25, 2012
License type:Rights-managed
Release info:Not released. More information
Source:Getty Images Europe
Object name:70709363
Max file size:3000 x 2000 px (10.00 x 6.67 in) - 300 dpi - 994 KB
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