How the sovereign debt crisis shaped wealth inequality in the euro area - Zprávy Kurzy.cz

The sovereign debt crisis led to a marked increase in wealth inequality in the euro area. Since then, inequality has slowly returned to pre-crisis conditions. Yet, its effects are still felt and visible today in the countries most severely affected by the crisis. In its short life , the euro area has already had its fair share of macroeconomic shocks, from the sovereign debt crisis to the COVID pandemic and the inflation surge. These shocks hit euro area citizens very differently across countries and social groups, with implications for the distribution of wealth. To understand how the wealth distribution evolved we are using a unique data set, the Eurosystem Household Finance and Consumption Survey (HFCS). It is based on around 90.