The German magazine Der Spiegel recently published an article entitled “Euro-crisis: Germans are afraid of their kids’ future” which reported on the general financial situation of Europe and its impact on the mood of its citizens.
The German article is based on the annual report of a Boston Consulting Group (BCG) survey revealing that Greeks and Spaniards are the most pessimistic Europeans with regards to the future of their children.
The general climate in Europe is described as pessimistic since citizens do not believe that the crisis will resolve itself any time soon. As a result, they feel more and more insecure about their jobs, the increased debt and the continuous recession.
According to the survey, 90% of those questioned believe that governments are responsible for the crisis, while a whopping 100% of Greeks believe the same.
As for the future of their children, only 13% of the Germans believe they will have a better life than they did. On the contrary, 50% of Europeans believe that the crisis will either have a direct impact on them, or later on, on their kids. On the global scene, Chinese people appear to be pretty optimistic, as 80% of them claim the next generation will live better than they currently do.
Surveying European behavior with regards to savings accounts, according to the BCG, also yielded some interesting results. Italians, Spanish, French and British save their money, mostly due to fear of the next recession, while Germans save money, mostly for their families benefit or to purchase expensive items.