Households have lost 28 pct of their assets
Greek households lost 27.9 percent of their assets in the decade from 2008 to 2018, Alpha Bank notes in its weekly financial bulletin.
The lender's analysts say that this drop was the biggest in the eurozone, followed by those recorded in Spain, Italy and Cyprus, while Germany recorded significant gains during the same period. Portugal also saw a rise, even though the country also went through an economic streamlining program, as it has benefited from the increase in property prices in recent years.
Households in Greece have recorded the biggest decline in the eurozone's non-financial wealth after their counterparts in Spain, a development that mainly results from the slide in the Greek property market in previous years. Nevertheless, realty is currently showing signs of recovery in terms of both residential and commercial properties, with the house price index climbing...