Euro area’s US$714 billion boom hope hinges on senior savers

Euro area’s US$714 billion boom hope hinges on senior savers

The Edge Markets - World·2021-04-16 05:09

(April 15): For the euro area to achieve a jumpstart in economic growth with a consumption boom, a whole generation of citizens who hoard money rather than spend it would need to seize the day and splash out.

That’s because a mass of savings built up by wealthier households stuck at home without restaurant visits or vacations during the coronavirus crisis is concentrated among older Europeans, who are less likely to open their wallets than younger counterparts.

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