UBS has released a study (we couldn’t find its source), presenting the ‘Real disposable household income growth in Euro area economies, by income decile[1], 2000 to 2010, in cumulative % change’
What does this mean?
The population has been divided in 10 parts, from the poorest to the richest (the decile).
For each country presented in the chart (Austria…Spain), you will find 10 bars representing the increase or decrease in percentage of the Real disposable household income.
“Real disposal income” is the amount of national income left over after taxes and inflation.
Belgium case
Take the example of Belgium; if you were one of the poorest citizen of the country and you were earning 1000€ a month in 2000; you salary worth 46% less taking into account taxes and inflation, or 540€!
If you were one of the richest citizen in Belgium and were earning 5000€ a month in 2000; your salary worth 7% more or 5350€ a month taking into account taxes and inflation.
Greek case
Poorest earning 1000€ a month in 2000, earns 40% more by the end of 2010 or 1400€
Richest earning 5000€ a month in 2000, earns 21% more by the end of 2010 or 6050€
Finally, the German case
Poorest earning 1000€ a month in 2000, earns 8% less by the end of 2010 or 920€
Richest earning 5000€ a month in 2000, earns 7% less by the end of 2010 or 4650€
Real disposable household income growth in Euro area economies, by income decile, 2000 to 2012, in cumulative % change. source: http://www.ubs.com
Conclusion
Do you really wanna know why Germany is a successul economy while other European countries are bailed out or close to the asphyxia ?
References:
[1] Decile: http://en.wikipedia.org/wiki/Decile
Further analysis:
Zeo hedge: http://www.zerohedge.com/news/tales-unexpected-who-really-benefited-euro-hint-not-germany (in English)
Les vrais gagnants de la Zone Euro: http://www.bakchich.info/international/2012/08/22/les-vrais-gagnants-de-la-zone-euro-61611 (en Français)
