|Monday, 11 February 2013|
|There are massive discrepencies in earning power among European countries shows the latest report from Eurostat.
The Danish are doing quite well for themselves, earning a net average of 25 Eur/hr ($34/hr). The Bulgarians on the other hand earn the lowest wages in Europe, a net of 1.5 Eur/hr, reports Eurostat.
The European statistical agency is doing the wage reports each year, started doing them EU wide since 2002.
Croatia was included in the latest round, in 2010 even though it’s not a EU member yet. While the Bulgarians are earning 17 times less than the Danish, the Croatians are earning 5 times less, averaging 5 Eur/hr net.
Having said that, Eurostat also reports that in certain countries, it’s far cheaper to live. For instance even though Bulgarians earn 17 times less than the Danish, citizens in Denmark have five times (not seventeen) the purchasing power.
Eurostat gives an example of discrepencies in pricing. A product sold in Denmark for 25 euros, is sold in Croatia for 17 euros and in Bulgaria for 7 euros.
These type of descrepencies continue across Europe, although Eurostat took few nations as an example.
In other words, what Eurostat is attempting to tell us is this – the European Union and the Euro as a currency is one big mess that cannot work neither on paper, nor in real life.
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