True wealth of Irish falls 10% below the EU average

The true wealth of Irish citizens is a full 10% below the European Union average showing the results of austerity on the population as a whole.

The figures showing the actual individual consumption per person across the EU are a measure of the material welfare of households, and a more accurate measurement than GDP of how ordinary citizens are faring.

Ireland is the EU’s third most wealthy country when GDP is measured, registering at 130% above the EU average, taking into account the effect of multi-nationals on the economy.