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Within Europe, Germany Drops Down Wealth Ladder

DW staff (jen)May 8, 2006

German prosperity levels are falling compared to other countries in western Europe, a recent study showed.

https://p.dw.com/p/8Ned
Relatively speaking, Germans are not as rich as they used to beImage: BilderBox

Despite an improving economic situation, the level of prosperity in Germany continues to sink compared with that of other European nations.

Germany has long been considered a key economic motor of Europe.

In a study done by Deutsche Bank that compared wealth -- mostly in terms of per-capita income -- in the 15 original European Union countries, Germany slipped down to 11th place.

Galeries Lafayette in Berlin
Despite better economic signals in Germany, other countries are doing betterImage: ZB - Fotoreport

According to the study which was commissioned by Die Welt daily, Spain could have higher per-capita income than Germany by 2008, and Italy may achieve that goal by 2014. By 2020, only Greece and Portugal would report lower per-capita income than Germany.

Reunification effect

Experts pointed to a one-time, long-lasting effect of reunification to explain Germany's slide down the wealth ladder.

Moreover, said Stefan Bergheim, an economist at Deutsche Bank Research: "For years now, Germany has missed the opportunity to plan for its own future and come up with a consistent growth strategy." Other countries are farther along in that area, he added.

Furthermore, he said, poor education policy has made long-term growth opportunity less likely.