It has been noted that European economic growth has lagged that of the US. This includes household wealth. IIRC, some 60% of US households own stocks or bonds.
“The companies are being built elsewhere,” she [European Central Bank President Christine Lagarde] said. “Last year the United States produced 59 notable AI models, and China produced 35. France and the United Kingdom produced one each.”…
They [European households] keep around one-third of their financial assets in bank deposits, compared with 11% among US households. Around 80% of eurozone households own no shares, bonds or investment funds…
More than 60% of eurozone households held most of their wealth in property, while around a quarter relied mainly on bank deposits. About 10% invested indirectly through pension and insurance products, while just 4% held a substantial share of their wealth directly in financial markets.
DB2