Europe's wealth gap laid bare

Europe's wealth gap was laid bare in new data showing that Luxemburgers have on average seven times greater purchasing power than fellow EU members Bulgaria.

Izvor: AFP

Monday, 21.06.2010.

16:45

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Europe's wealth gap was laid bare in new data showing that Luxemburgers have on average seven times greater purchasing power than fellow EU members Bulgaria. Compared to a European average expressed as 100, the people of Luxembourg, a substantial private banking and finance center, enjoy spending power pegged at 268 per cent of that average. Europe's wealth gap laid bare Ireland came in second, on 131 per cent, with Britain and Germany comfortably above on 117 per cent and 116 per cent respectively. The statistics, before massive austerity cuts, gave Greece 95 per cent of the EU average, whereas Poland, the bloc's fastest-growing economy, came in at just 61 per cent. The lowest was Bulgaria, on 41 percent. Non-EU Norway, which benefits from access to the single European market, clocked in at 177 per cent, but Albania, which hopes eventually to gain EU membership, measured just 27 per cent. The EU Eurostat agency's preliminary estimates for 2009 express gross domestic product in purchasing power standards.

Europe's wealth gap laid bare

Ireland came in second, on 131 per cent, with Britain and Germany comfortably above on 117 per cent and 116 per cent respectively.

The statistics, before massive austerity cuts, gave Greece 95 per cent of the EU average, whereas Poland, the bloc's fastest-growing economy, came in at just 61 per cent. The lowest was Bulgaria, on 41 percent.

Non-EU Norway, which benefits from access to the single European market, clocked in at 177 per cent, but Albania, which hopes eventually to gain EU membership, measured just 27 per cent.

The EU Eurostat agency's preliminary estimates for 2009 express gross domestic product in purchasing power standards.

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