The German Bunds & War
Geopolitics surrounding Ukraine and NATO’s push for war are set to disrupt the fiscal consolidation efforts in Europe. At the same time, growth challenges call for much more significant investment [...]
Germany Raids Healthcare Funds to Support Refugee Crisis
COMMENT: Dear Martin, you always claim that the costs for social security will become unpayable from 2017 onwards. In Germany we have health care system organized by the federal government / the federal state. The government now created a “turbo” to bankrupt this system: The government passed a law that allows them to take 1.5 billion euros from the liquidity reserve of the public health care fund (10 billion euros in total, paid by all members and additionally by the taxpayer) and to give that money to refugees / asylum seekers. What would you call this? Insane?
Thank you for all you do!
Kind regards,
Michael
ANSWER: You are correct. The refugee crisis is rippling through every aspect of the economy. Germany is seeking to pay for the crisis the government created and will not reverse their policy.
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