The French Wealthier than the Germans – Really?

Cock-a-doodle-doo! “Savings: the French are richer than the Germans”, boasted Les Échos on May 4th. In fact, according to a study realised by ING with data from Banque de France, “The whole of French wealth owned by individuals totalled 5.233 Trillion euro at the third quarter of 2017, up 8.5% year-to-year. This is the equivalent of 178,200 euro of gross financial wealth per household. After subtracting the debt, which was at the time of 1.576 Trillion euro, the net worth of French households (124,600 euro) is still impressive. It means that French households were 15% richer than their German counterparts (107,700 euro) in the third quarter of 2017.” If we add non-financial wealth, e.g. mainly real estate, the entire wealth “totalled 7.5 Trillion euro in 2016, or 255,400 euro per household.” Those numbers would make sense if the French economy was outperforming Germany’s, but the contrary is true – by far, whatever the indicators used. So how can we explain this French...

from GoldBroker.com https://www.goldbroker.com/news/the-french-wealthier-than-the-germans-really-1322