Relevant:
- For most families, wealth has vanished - Survey "Fills In Blanks" of Federal Reserve Data
- Time to end Europe's disgrace of holding Greek people hostage
- Germany Grapples (Again) With The Choice Between Its Constitution And The Euro
- St. Louis Fed: Household Net Worth Still Hard Hit by Crisis
- French borrowing costs rising at 'worrying' rate
2013-04-22 — www.spiegel.de
It would be more sensible -- and fairer -- for the crisis-ridden countries to exercise their own power to reduce their debts, namely by reaching for the assets of their citizens more than they have so far. As the most recent ECB study shows, there is certainly enough money available to do this.
The numbers are potentially explosive. For instance, the average German household has assets of €195,000, almost €100,000 less than the average Spanish household. The average net wealth of households in Cyprus is €671,000, more than three times the German value. Italian and French households are also significantly wealthier than their German counterparts.
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