The German policy catastrophe is picking up speed. The banks are now warning that a large proportion of Germans will in future reach the limits of their financial resilience due to the rapidly increasing cost of living.
Savings Bank President Helmut Schleweis informed German weekly Welt am Sonntag : “We expect that due to the significant price increase, up to 60 percent of German households will have to use their entire disposable income – or more – monthly for only living expenses.
“This part of the population is then simply no longer able to save.”With 40 million households nationwide, this would […]
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