The racial wealth gap in the US is affecting its citizens and its economy – this is how

This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum. Author: Sean Fleming, Senior Writer, Formative Content The US has spent the past century expanding its economic power. As it has grown, so too has the wealth of American families. But not everyone has benefitted, according to a new report. […]

Crisis hit countries cut down public spending on education

Despite an almost continuous but very moderate increase of government spending on education in absolute (euro) terms during the 2002-2012 decade the amount of public resources devoted to this end as a percentage of GPD either stagnated (2002-2007) or decreased (2009-2012), with the exception of a brief period between 2007-2009. During those three years educational […]

Do academia and banks favour a new Middle Ages period?

Androulla Vassiliou, European Commissioner for Education and Culture, delivered a speech last Friday in London’s King’s College, entitled “Investing in education in times of crisis”. Her major point was that virtually all EU governments are either reducing their education spending or maintaining current levels. She added that “The latest data from Eurostat tells us that […]

Lies and reality about incomes and wealth in the EU

The European Central Bank in April this year produced a statistical paper on the distribution of real household wealth in Eurozone countries. The study argued that in terms of net wealth the average German household appears much poorer than their counterparts in the crisis hit countries of south Europe, that is Greece, Cyprus, Spain, Italy […]

ECB indicates south Europeans can endure more austerity

According to a European Central Bank report which was published yesterday, the average household in south European countries like Cyprus, Greece, Spain and Italy possess more net wealth than their peers in the north (net wealth is defined as the difference between total assets and total liabilities). The obvious conclusion is that they can endure […]

How wealthy people transmit this advantage to their children and grand children

Eurostat, the European Union’s statistical service, published data on poverty and social exclusion risks for EU citizens in 2011, showing completely disappointing results. The interesting thing, however, is that Eurostat didn’t release similar data for previous years for comparison reasons. Given that the much-advertised by the Brussels EU bureaucracy, “Europe 2020 strategy”, has set as […]