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(en) awsm.nz: Filthy Rich - Europe Billionaires Wealthier Than Ever

Date Wed, 22 Nov 2017 09:48:02 +0200

Europe's fifty richest people have become 153 billion dollars wealthier over the past year, with a total net worth rising to 754 billion dollars. ---- That rise - about three billion dollars each on average - is equivalent to five billion dollars for each of the 28 EU member states or 300 dollars per person across the EU. ---- All but two of the top 50 fattest cats increased their wealth. ---- By country, Germany led the rankings, accounting for 14, followed by France and Sweden, each with nine , Italy and the UK each with three, and Spain and Austria each with two out of the fifty. ---- The European Central Bank's policy of quantitative easing, by raising asset prices, has disproportionately benefited the wealthy, thereby contributing to rising inequality. ---- At the same time EU-inspired austerity policies have reduced income for the 99% directly - average EU wages have been falling in real terms since at least 2011 - and indirectly - through cuts to welfare and public services, which, together with your pay packet, make up what was once called the so-called the "social wage".

In 2016, 117.5 million people, or 23.4% of the population, in the European Union (EU) were at risk of poverty or social exclusion, and 7.5% of the population were "severely materially deprived", rising to over 20% of in some countries - Bulgaria (31.9%), Romania (23.8%) and Greece (22.4%).

The above article first appeared here: https://revolting-europe.com/2017/11/13/filthy-rich-europe-billionaires-wealthier-than-ever/

For comparative purposes...

nz's rich list:



The country's two wealthiest people own the same amount as the poorest 30 percent in New Zealand.

And the richest 1 percent of New Zealanders own 20 percent of wealth, while 90 percent of the population owns less than half of the nation's wealth.

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