<story><title>Europeans drain billions from banks, fed up with shrinking savings</title><url>https://www.reuters.com/business/finance/fed-up-with-shrinking-savings-europeans-drain-billions-banks-2023-05-04/</url></story><parent_chain><item><author>ab_testing</author><text>So, where are they putting in the money. Reading the article, it is not very clear, but it looks like there a slight shift from Savings Accounts to Money Market Accounts. In the end, I think it is just shuffling money between banks. Nobody is stuffing their money in the mattress anymore.</text></item></parent_chain><comment><author>huhtenberg</author><text>Stocks dividends are now in 5-10% range, e.g. Verizon is at 7%.&lt;p&gt;Obviously, markets are volatile and are in &amp;quot;search of direction&amp;quot;, but quite a few dividend-paying stocks are trading at near 5-10 year low, so picking them up is not that much of a gamble if your investment horizon is long.</text></comment>
<story><title>Europeans drain billions from banks, fed up with shrinking savings</title><url>https://www.reuters.com/business/finance/fed-up-with-shrinking-savings-europeans-drain-billions-banks-2023-05-04/</url></story><parent_chain><item><author>ab_testing</author><text>So, where are they putting in the money. Reading the article, it is not very clear, but it looks like there a slight shift from Savings Accounts to Money Market Accounts. In the end, I think it is just shuffling money between banks. Nobody is stuffing their money in the mattress anymore.</text></item></parent_chain><comment><author>robotresearcher</author><text>Paragraphs 6-10 of the article are entirely about the new popularity of money market accounts and the reasons for it.</text></comment>