Why Germans are poor

An article in today's links deserves a post all of its own because it is so important. Recently the ECB conducted a eurosystem household finance and consumption survey and people have been talking about it because it shows that household wealth in places like Italy and Spain is greater than it is in Germany. About Spain, for example, the question people are asking is "why is Germany bailing out Spain when mean Spanish wealth is greater than mean German household wealth?"  Another variant of that...

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