German nuclear shutdown will damage European economy(Read article summary)
Germany recently announced plans to end its nuclear energy by 2022. The move could drive up electricity prices and coal use.
Michael Probst / AP / File
Germany now plans to gradually shut down all of its nuclear plants, with the last being closed in 2022. This is bad news for Europe in general and Germany in particular as it will lead to higher electricity prices, especially given the fact that the anti-"climate change" zeal will prevent or at least limit its replacement with coal.
The decision rested apparently on the tsunami-induced problems of nuclear power in Japan. In other news, following the same logic, Singapore will soon invest heavily in snow removal equipment and Nepal will soon invest in a Navy.
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