Negative Rates Are Failing to Halt Savings Obsession in Europe

  • Survey shows 69% of Europeans put savings into bank accounts
  • Intrum Justitia survey also shows 29% wanting to move abroad

The euro sign sculpture stands illuminated outside the former European Central Bank (ECB) headquarters at dusk in Frankfurt, Germany, on Thursday, Oct. 20, 2016. Unlike Deutsche Bank, which announced plans in June to reduce its branches to 535 from 723 next year, Commerzbank says its branch network is key to its strategy to add two million new clients by 2020, double its previous target.

Photographer: Krisztian Bocsi/Bloomberg
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After years of turbo-driven central bank stimulus, most Europeans still want to leave their spare cash in savings accounts, even if those accounts pay zero interest.

QuickTake Negative Interest Rates