Oxford University Press's
Academic Insights for the Thinking World

  • Author: Till Stowasser

Savings banks in Germany: welfare versus politics

In Germany, it is not uncommon for primary-school children to have their own savings account. A reason for this is that on World Savings Day, savings-bank representatives visit schools all over Germany to educate pupils about the benefits of saving. Besides being clever marketing, this program is rooted in the savings banks’ legal pledge to foster economic welfare: German state law requires savings banks to support the local economy.

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