Tuesday, September 18, 2012

Germany's rich get richer despite crisis...

The financial crisis can't touch them - Germany's richest just keep getting richer. Top earners' salaries are up, but the bottom 40 percent of full-time employees are earning less after wages were adjusted for inflation.

A government report on poverty seen by Tuesday’s Süddeutsche Zeitung newspaper said the development "violated the people's sense of justice."

The richest ten percent of German households have more than half of the total assets, the report said - taken to include real estate, investments, land or claims from company pensions. And the poorest fifty percent of households have just barely one percent of the net wealth.

 The net wealth of German households has doubled in the past two decades, from €4.6 billion to more than €10 billion. Full story...

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