Greece Is Europe's Only Negative Saver

Greece’s household saving rate was -5.12% in the first quarter of 2026, according to Eurostat data released July 27, 2026. Everyone else in the EU is saving. Greece is spending its way through what’s left.

Greece: -5.12%. EU average: 14.14%. Euro area: 14.29%. Greece is the only EU member state in negative territory, and has been every quarter since early 2024.

The income gap behind it

Real disposable income per capita fell 3.65% quarter-on-quarter, the steepest drop anywhere in the EU, while consumption kept rising. Part of it is structural: Greek household income per capita has sat more than 20% below the EU average since the debt-crisis years, and that gap hasn’t closed even as headline growth recovered.

One thing that complicates it: a negative saving rate isn’t universal hardship. Some of it is wealthier households drawing on investment and property income that doesn’t register as wages.