As a result, German banks have a lower cost of funding and – all else being equal –&#160;higher profitability. To the extent that some of the lower cost is rebated to their clients, even industrial firms in Germany enjoy a lower cost of capital, giving them an unfair advantage vis-à-vis their European competitors.
结果，德国银行得到了更低的融资成本和——在其他条件相同的情况下——更高的利润。更低的成本中有一些作为回扣给了其客户，于是，德国的产业界企业也享受到了更低资本成本，使它们相对欧洲竞争对手拥有了不公平的优势。