Crisis, CENSIS: “One in three Italian afraid of becoming poor.” And it gives the … – The Daily

Crisis, CENSIS: "One in three Italian afraid of becoming poor." And it gives the … – The Daily

One in three Italian afraid of becoming poor . A situation worse than the one perceived in Germany and the UK, but also in France and Spain. These are the findings from a study of the CENSIS published in the Diary of transition . According to the report, to fear the poverty line is the 33% of Italian . And only 30% feel that they are well covered by the system welfare , a figure that rises to 58% in Spain , 61% in the UK 73% in Germany and 74% in France . “In this challenging environment, with growth and jobs that do not share – we read in the analysis – Italians think it is important to be safe in case arises a disease , job loss or simply to meet the unexpected expenses “. So what are the reasons why Italians save? 44% to cope with social risks to health or work, 36% because it is the only way for feel safe , 28% to secure a peaceful old age. The crisis of confidence leads to use the money as a precaution, so he wins “defense against unexpected pitfalls – continues the study – rather than the momentum investment which makes it in time or the placing on the virtuous cycle of consumption. “

Perhaps for this reason that s empre according to the research institute, in the crisis years Italians have preferred to keep the money in Cash or latches on accounts , available just in case. The value of cash and bank deposits has increased by 234 billion of euro in the past seven years, the stocks that have grown from € 975 billion in 2007 to 1209000000 of March 2014, an increase of 9.2% in real terms. Now make up 30% of the portfolio of financial assets of households, while only 25% were in the year before the crisis.

“Uncertainty, fear, caution – says CENSIS – urge Italians to keep the money close, immediately ready when needed and to buffer the risks. ” During the same period increased by 7.2%, ie 125 billion euro, even with money set aside Insurance pension funds . And life insurance policies have returned to work as a piggy bank for many Italian: premiums collected increased from 63.4 billion euro in 2007000000000-86.8000000000 in 2013 ( 21.3% in real terms). In contrast were set to zero consumption (-7.6%) and halved investment properties, with sales of homes that went from 2007 to 807mila 403mila 2013

The most propensity of Italians to the creation of savings has been reversed since the second quarter of 2012, with a growing trend that has seen the masses move from 20.1 billion to 26 billion euro (first quarter 2014), with a increase in the period of 26.7% in real terms. The propensity to save is thus rose from 7.8% to 10%, even in the face of a reduction in the same period of 1.2% of household disposable income and despite the low inflation has attenuated the fall in the purchasing power . “Less income, less investment , zero consumption, the more you save – sums up the CENSIS – this is the trend of the Italians at the time of crisis.”

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