Get all the very latest news in Ireland straight to your email every single day Sign up! Thank you for subscribing See our privacy notice Invalid Email

Ireland lost more money than any other Eurozone country after the financial crash, it has emerged.

A report by the European Central Bank shows each of us saw our personal wealth slide by €18,000 between 2009 and 2013.

The Greeks and Spaniards were the second and third worst-hit by the crisis in the Eurozone over this four-year period.

Greek people lost almost €17,000 each, while Spaniards saw their worth dwindle by nearly €13,000.

The calculation takes into account the value of property and how those who own it have been affected by negative equity – when their home now has a lower value than it did when first purchased.

ECB data also revealed the two countries which gained the most in the four years following the 2008 financial collapse are the Netherlands and neighbouring Germany.

Dutch citizens saw their wealth per capita jump up by around €33,000.

More:

And the Germans’ personal wealth increased by approximately €19,000.

The study suggests this boost can be explained in part by an increase in the return on financial investments over that time.

The report shows how the impact of the financial crash was felt very differently across the 19 countries of the Eurozone. It does not take into account the recent signs of recovery in Ireland and Spain.

Financial experts have encouraged a system of payments from rich to poor Eurozone member states in order to rectify this imbalance.

However, this proposal has been rejected by the EU’s wealthier members in fear poorer countries would not reform and would expect handouts in the future.

Another chart released by the ECB shows income is increasing in most Eurozone countries and weaker nations may improve over time.