Wednesday, 2 March 2016

Hans-Werner Sinn doubts that the flow of refugees can help Germany economically. Especially due to their low qualifications, the immigrants will instead cost the state gigantic sums, warned the outgoing head of the IFO in a speech given in Munich. 
The calculation of the Freiburg financial economist Bernd Raffelhüschen, who has calculated costs of 450,000 euros for each refugee, Sinn considers still somewhat optimistic. As Raffelhüschen's numbers would only apply if the asylum seekers could be quickly integrated into the employment market, like other immigrants. 
Sinn is greatly concerned about the German state. It is responsible for protecting the collective assets that have been created over the course of generations. The policy of open borders ignores this. "Liberal and open societies can only exist with fences and not without them," said Sinn. But many people in Germany have not understood this.

The IFO institute is a prestigious economic research organisation in Germany.