HSBC: European Refugee Crisis (Slightly) Hurting German GDP

As terrorist events grip Belgium and Europe at large, an HSBC economics piece considers the costs of the European refugee crisis. From an economic standpoint, the near $15,600 (USD) cost the government pays in subsidies – nearly 90% direct subsidies given to refugees each year – is problematic but manageable for the German government. It is the political equation that is causing German Chancellor Angela Merkel the real problems. European refugee crisis costs the German government an estimated 0.7% of GDP, but generates 0.4% in additional GDP The economics of Germany accepting as many as 500,000 Middle Eastern refugees is not…