Europeans Are Getting Poorer, And More Unequal
- Survey of households shows wealth slid 10% from 2010-2014
- Falling property prices were biggest driver of slump
A cyclist rides across a bridge as the skyscraper headquarters of the European Central Bank (ECB) stands beside the River Main in Frankfurt, Germany, on Thursday, Sept. 8, 2016.
Photographer: Jasper Juinen/BloombergThis article is for subscribers only.
Europeans protesting against inequality have half a point -- the gap between rich and poor isn’t closing.
Ten percent of euro-area households own more than half the region’s wealth, according to a European Central Bank survey published Friday. A standard measure of inequality increased “slightly” and almost all households were worse off in 2014, the cut-off for the survey, compared with the previous poll in 2010.