GERMANY WOES CONTINUES: Migrant crisis to cost Merkel’s government over a TRILLION pounds
MIGRANTS could set the German economy back by more than a trillion pounds after last year’s wave of refugees, an economist had warned.
By VICKIIE OLIPHANT AND MONIKA PALLENBERG
Express.co.uk
Thu, Jul 21, 2016
Financial economist Bernd Raffelhüschen claims the overall debt in Germany stands at €6.2 trillion, equivalent to more than £5trillion.
The western nation has experienced its longest boom since the sixties, as employment reached a new high and social security reported record revenues.
But Mr Raffelhüschen claims the tables could soon turn as Germany begins to take into account the cost of the refugee wave of 2015.
He states the long term costs of the original crisis totals around €878 billion, which threatens to soar up to €1.5trilllion depending on how well the “second generation” fits in with life in Germany.
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