Germans Have No Confidence
German investors, that is. The question of whether the German economy is looking healthy or not has welled up in the public consciousness again. According to various new reports from special people, no-one believes in the German economy, and some people have been out on the streets again protesting about how poor they are.
There is a definite financial caution to the way Germans do business. Notoriously cautious, they’re said to only invest in the safest bet – in fact, Eastern Europeans countries saw it as a sign of their economic stability when German companies started to move in during the mid-nineties.
And it’s the same for the nuts and bolts of life. Compared to Great Britain, where every poor student gets a debit card as soon as their ears have dried, so that they’ll get into as much debt as possible as soon as they can, German banks only give you an EC card after you’ve proved you can pay for it.
But perhaps it is the very wise caution that is crippling Germany at the moment?
Comments
Quick one Benji a debit card only allows you to spend money that you have (-unless you have an overdraft facility arranged with yoour bank). A credit card however will let you piss your life up the wall as fast as you want. I myself prefer to use both the whole process is accelerated...
Anonymous; May 17, 2006 12:12 PM
While it is true that there's much less willingness for banks to sponsor, the number of private insolvencies is growing fast now even in Germany, as is the number of youths piling up a lot of debt before turning 18 (mobile phones made it possible).
While it might be good for the economy as a whole, it's a shitty experience to spend money you don't have, and then having to pay back for a lifetime (I know so out of own experience).
Like they say, no risk no fun!
Pickelamvolksarsch; May 17, 2006 3:08 PM