According to a study by the Center for European Policy (CEP), Germany is the biggest winner of the introduction of the euro. From 1999 to 2017, Germany benefited the most from the single currency, namely almost 1.9 trillion euros, according to the study published today. The largest welfare losses recorded according to the study Italy and France.
For the study „20 Years of Euro: Losers and Winners“, the development of gross domestic product (GDP) per capita in Germany, the Netherlands, Greece, Spain, Belgium, Portugal, France and Italy was examined, ie eight of the now 19 euro countries , There are no results for Austria.
23,000 euros profit per capita in Germany
According to the study, the benefits of the European single currency correspond to around 23,000 euros per capita for Germany. In addition, only the Netherlands achieved substantial benefits from the introduction of the euro, namely around 21,000 euros per capita or a total of 346 billion euros.
Greece profited greatly from the euro in the first few years after the introduction of the euro, but suffered losses since 2011. Over the entire period, the balance sheet with just over two billion euros or 190 euros per inhabitant is just positive.
€ 74,000 loss per capita in Italy
All other EU Member States surveyed have lost wealth due to the single currency. According to the study, these were the largest in Italy with 4.3 trillion euros or 74,000 euros per inhabitant, followed by France with 3.6 trillion euros or 56,000 euros per capita. According to the CEP, the euro also led to a decline in wealth in Portugal, Spain and Belgium.
