Germans Keep on Saving Their Money—Even When It Hurts

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Germans Keep on Saving Their Money—Even When It Hurts
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Germans won’t stop saving. But stockpiling cash has left German households poorer than those in Greece, and it has contributed to inequality and restrained economic growth across Europe.

Thrift has a long tradition in Germany, but stockpiling cash might be damaging the country’s growth and eroding its wealth ‘Even a little can help when you need it!’ says a savings bank poster from 1953, from a museum exhibition.

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