Euro Breakup Might Shrink German GDP by 10%, Spiegel Says
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Germany’s economy might shrink by as much as 10 percent in the year after a breakup of the euro, Der Spiegel reported, citing an unpublished study from the German Finance Ministry.
The number of jobless in Germany would rise to more than 5 million if the currency union falls apart, the magazine cited the study as saying in an article on its website today. Germany had 2.87 million unemployed in May, the Federal Labor Agency said on May 31.