ECB Survey Challenges Image of Poor Southern Europe

ECB Survey Puts Southerners on Top in Household Wealth, Germans Near Bottom

ECB Survey Challenges Image of Poor Southern Europe - WSJ.com: "German households are among the poorest—on paper, at least—in the euro zone, according to a study by the European Central Bank that adds a new twist to the debate over how far taxpayers in Northern Europe should go to support weaker countries. The ECB's findings, released Tuesday, don't give the full picture of a society's living standards, which are affected by things like social protection and infrastructure as well. It also is based primarily on data from 2009 and 2010—early days in the still-festering euro crisis. Most significantly, the report doesn't adjust for differing rates of homeownership, which is particularly low in Germany. Nevertheless, the report offers a reminder that citizens in some of the countries hardest-hit by Europe's debt crisis aren't as bad off as many believe."

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