In his autobiography, “In search of the truth”, famous German economist Hans-Werner Sinn says the migrant crisis could cost the country almost one trillion euros, Focus reports. Sinn is a former advisor of Angela Merkel and retired president of the IFO Institute for Economic Research.
Germany accepted 1.5 million migrants since 2015 and Sinn says they are not dentists, lawyers and nuclear scientists, but mostly underqualified immigrants. According to him, these people can never repay what they have received from the German welfare state during their lifetimes.
While German states spent more than €20bn on refugees in 2016, it’s easy to see why Sinn’s one trillion euros estimate is a serious possibility, when looking at lifetime support for migrants. At the same time family reunifications and higher security costs are not (yet) part of the budget.
From an economic point of view, economic refugees can and must be refused, which does not mean that immigration is no longer possible, but that only those people who the EU wants to become citizens are welcome, Sinn writes in his book.t
Responsible ethics are those who judge an action only according to its consequences, regardless of the means necessary to enforce it. Applied to the migrant crisis, on the long term it would be better to bring people back to their homeland, but many politicians shy away from that, Sinn concludes.