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Cash is still king for debt-averse Germans

2012-08-15 17 Dailymotion

Germany is lending its European neighbors billions of dollars to save the eurozone. But the German people are very reluctant to get into debt themselves.<br />In fact, people there use cash to pay for things at a far higher rate than in other big economies. And most Germans would rather rent their home than buy, in order to avoid going into debt.<br /><br />It’s a frame of mind that helps explains Berlin’s tough stance on European bailouts.<br /><br />Al Jazeera’s Nick Spicer reports from Berlin.

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