Wednesday

1st Dec 2021

A third of Europeans have no savings

A third of Europeans have no savings at all, while in Spain and Italy half of the population is using up money put aside, a survey carried out by the German pollster TNS on behalf of ING Bank shows.

The study was carried out on over 14,000 adults in Austria, Belgium, Czech Republic, France, Germany, Italy, Luxembourg, the Netherlands, Poland, Romania, Slovakia, Spain, Turkey and the UK.

Read and decide

Join EUobserver today

Become an expert on Europe

Get instant access to all articles — and 20 years of archives. 14-day free trial.

... or subscribe as a group

The country with the fewest savers was Romania, where almost half (48%) of respondents said they have no savings, while Luxembourg had the most (89%).

The evolution of personal savings in the past year showed they decreased among 52 percent of Italians and 47 percent of Spaniards. In Turkey and Great Britain, however, almost half of their citizens were able to set aside more money in the past 12 months.

Asked whether they were happy with the state of their savings, Dutch and German were the most happy (47% and 46%), while Czechs, Italians and Spaniards the most unhappy (38% and 36%).

Most respondents - over two thirds - said they were not able to spend as much on hobbies, clothes and body care. Education and health were the least touched.

On average, there are more Europeans who say they would be able to live from their savings for three months (49%) than those who say they could not (47%).

Luxembourg tax scandal may prompt EU action

An investigation into Luxembourg's tax regime has uncovered how the Italian mafia, the Russian underworld, and billionaires attempt to stash away their wealth. The European Commission has put itself on standby amid suggestions changes to EU law may be needed.

Investigation

Portugal vs Germany clash on EU corporate tax avoidance

Portugal's taking over the EU presidency puts the tax transparency law for corporations - which has been fought over for years - to a vote in the Council of Ministers. The resistance of the German government has failed.

News in Brief

  1. Poland curtails media access to Belarus border
  2. Report: Germany's Scholz 'backs compulsory Covid jabs'
  3. Omicron 'present in Europe at least 10 days ago'
  4. German court finds ex-Islamic State member guilty of genocide
  5. Report: Shell is considering return to Libya
  6. Report: EU to reveal €300bn infrastructure plan
  7. Barbados becomes world's newest republic
  8. Far-right Zemmour will run for French presidency

Vietnam jails journalist critical of EU trade deal

A journalist who had demanded the EU postpone its trade deal with Vietnam until human rights improved has been sentenced to 15 years in jail. The EU Commission says it first needs to conduct a detailed analysis before responding.

Stakeholders' Highlights

  1. Nordic Council of MinistersNew report reveals bad environmental habits
  2. Nordic Council of MinistersImproving the integration of young refugees
  3. Nordic Council of MinistersNATO Secretary General guest at the Session of the Nordic Council
  4. Nordic Council of MinistersCan you love whoever you want in care homes?
  5. Nordic Council of MinistersNineteen demands by Nordic young people to save biodiversity
  6. Nordic Council of MinistersSustainable public procurement is an effective way to achieve global goals

Latest News

  1. No obligation to defend Ukraine from Russia, Nato chief says
  2. EU agency: 'Omicron vaccine' approval to take 3-4 months
  3. Ombudsman launches probe into Commission tobacco lobbying
  4. Lead MEP wants 'mandatory relocation' in EU asylum law
  5. The EU's 'global gateway' - an answer to China, or a dead-end?
  6. Osman Kavala in a Turkish jail - taking injustice personally
  7. Frontex implicated 'to some extent' in violations, says officer
  8. Omicron shows need for pandemic global pact, WHO says

Join EUobserver

Support quality EU news

Join us