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The "frugal German taxpayers (with an average saving 11.5% of their incomes in 2010 )...are on the hook for bailing out some other European countries (like Greece where residents spent 12% more than they earned in 2008) where borrowing has been a way of life. It's one of the issues fueling tensions within the euro zone as Germany and France this week began the delicate task of trying to convince their major banks to voluntarily accept losses on their holdings of debt in Greece, which faces a cash crunch despite a bailout last year."
"Risk-averse Germans are concerned about the problematic economic behavior of some of their neighboring countries," says Thorsten Hennig-Thurau, a professor at Münster University.
