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England bottom of Euro financial league

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21/06/2006

When it comes to our personal finances we are bottom of the Euro league compared to four key World Cup seeded rivals – France, Germany, Italy and Spain, according to research from Egg.  The report aimed to compare a series of key financial statistics in each region, to assess which nation’s consumers are the most financially fit.
 
The research found that France was strongest in only one metric, with French households saving almost 12% of their income.  England, Germany and Spain performed well in two metrics each with Italy leading the group of nations in four key financial positions.
 
England tops the salary and highest level of personal savings charts but had a poor showing when it came to high insurance premiums and high personal debt.
 
Alison Wright, Egg’s chief marketing officer said: “Whilst there are some positive signs in our personal finances, compared with our European counterparts England’s performance is not as strong as it could be.  Our research ultimately shows that we could to learn some valuable lessons from our European rivals by making our money work harder for us in key areas.  This is particularly true with regards to paying down our short term debt, adopting a healthier savings mentality and shopping around for the best insurance deals in the marketplace.”

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