Germany: What Makes A Nation Rich or Poor?
Are Germans less financially wealthy than those in Europe’s poorer countries?
January 3, 2014
1. While Germany has held its own in the midst of the European crisis, Germans are less wealthy on average than those in many of the nations they are bailing out.
2. With average household assets of 51,000 euros, Germans are in actuality less wealthy than Slovaks.
3. Somewhat shockingly, they are only half as wealthy as Greeks (102,000 euros).
4. Germans are also one-fifth as wealthy as Cypriots (267,000 euros).
5. They are one-eighth as rich as people in Luxembourg (398,000 euros).
6. A key explanation of the discrepancy is that most Germans rent their homes instead of owning them.
From Germany: Europe’s poor relation by Holger Steltzner (Frankfurter Allgemeine Zeitung)