European Championship won’t save German economy, study shows
The European Championship to be held in Germany this summer is unlikely to turn into a summer fairytale for the euro zone’s largest economy as it struggles for growth, a study by a leading institute and seen by Reuters showed on Friday. “The experience of the Football World Cup in 2006 shows that major sporting events are not economic fireworks,” said Michael Groemling, head of the Institute of the German Economy IW Koeln. Germany’s industry-heavy economy has struggled since Russia’s February 2022 invasion of Ukraine, which pushed up energy costs, ...
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