Economic Experts Warn of Severe Consequences for German Economy and Markets Amid Escalating Middle East Tensions
As the situation in the Middle East continues to deteriorate, with attacks in Iran and Israel, the Chairman of the Scientific Advisory Board at the German Federal Ministry of Finance, Jörg Rocholl, has sounded the alarm over the potential devastating economic consequences for the German economy and global markets.
The current situation is deeply concerning, Rocholl warned, as it is already marked by high market uncertainty, which is likely to intensify further. The energy and oil prices have already begun to rise, a trend that could continue to escalate if the conflict in the region worsens.
Moreover, the future of trade routes is uncertain, with the Houthi rebels potentially seeking to restrict them. The economic implications of the situation are far-reaching, Rocholl emphasized and the impact on the German economy will depend on the duration of the conflict and the likelihood of further escalation.