Combined total in Dutch savings accounts almost equal to state debt in the Netherlands
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Have you ever wondered what the citizens of such a well-off country like the Netherlands do with their earnings? Get this! If we were to add up all the money in Dutch savings accounts at this moment in time, that amount would almost be equal to Netherlands state debt.
The current state debt of the Netherlands stands around 450 billion Euro while the total amount on all Dutch savings accounts put together stands at 355 billion euro put together. That equals to around €44,000 per Dutch citizen.In the first half of 2014 alone, at least 6.6 billion Euro was transferred by citizens to savings accounts. That said, the unemployment rate in the Netherlands was at 8.4% mid-July which is very high for a first world country. That’s more than 1.3 million people without a job.
So if you were ever looking for an explanation as to why the Netherlands economy has been at a standstill since the credit crisis, your answer might be right here.