Yesterday's decision by Germany to leave nuclear energy, may be brilliant or catastrophic. They will allow 8 nuclear power plants to close by year-end with the remaining 9, for a total of 17, to close in 2022. These plants represent approximately 23% of Germany's electrical generation capacity. Taking the 8 down this year will, reduce capacity by 10% or so. The catastrophe is that it will result in much higher prices, which will cause rational usage to take place. People and businesses overnight will have to adjust their behavior. Manufacturing costs will rise, and cause Germany companies to look outside the country for cheaper manufacturing. This will likely cause unemployment to increase and tax revenue to decrease, partially offset by constructing power lines from the coastal wind farms down to the southern manufacturing sites (which will take time and will still need back-up systems for those long gray days) and constructing natural gas pipelines from the ever-reliable eastern countries (have not they learned from the previous two natural gas shutdowns from Russia).
The timing of this seems most interesting and brilliant. Suppose that Germany is tired of bailing out countries who have not saved adequately and refuse to realize that they are in debt, but because the hard working Germans are rich, they can continue to pay while the party countries continue to party. Suppose this is Germany's way of saying - Sorry, the party IS over, because we don't have the revenue stream any longer. What will Portugal, Ireland and Greece do? If the French can't push out their retirement age for all of its pensioners, then they are not likely to pick up where Germany has left off. So with the two richest countries not willing to continue to pay for the hangovers (1 and 2), where does that leave the EU and the Euro? Ask China, for they are willing to bail out Portugal.
Think wisely and act rationally.
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