Im Chris Colburn berlin welcome and as you might know yourself real gender equality is about far more than money its also about recognition equality appreciation we have made some progress womens rights have advanced throughout the decades of my colleague. Says there is still a lot of room for improvement. More than once of the employed meaning that within the us s. And that it may be hard to believe but in west germany in the 1960 s. Married women couldnt get a job without their husbands permission nor will they open a bank account of my i guess thats the important possible but i think hes maybe over it but equal rights are often still lacking in germany when it comes to money combining at what is the. Single was not a macho. Lesson yes china starts early on average girls get 17 percent less pocket money than boys in the men lost their passion my logic is why on earth should this be the case its going to paris think girls cant manage their assets. Then what about ill let and later women often have lower paid jobs than men its worse than and women tend to be more cautious when it comes to investing their money not in men no more likely to buy stocks and shares and was therefore just women less you know so thats not let me. Actually there is no women who have children can also lose out financially in the soviet union reconciling career and family is still really difficult to sort out what im or. And work in the household is of course a labor of love and then the bark of a hot seat in this dont have a brain. Let us see whether or not that i want a woman to pay the price for enduring inequality in germany only half the adult female population work the other half contribute nothing or very little into a pension fund when women here get on average just half the pension men do is hope for change in old age is a risk or reality for way too many. I think one less than 15 years ago i remember the lives of women in germany now we women legally free but we still have a way to go to really overcome financial inequality between the sexes the one that has. Now as my colleague just mentioned an increasing number of women are facing a growing social problem poverty in all their age some having to get by on a dangerously low pension is already a harsh reality also here in germany my colleague met a retiree whos budget is so tight that even treating herself to an ice cream as big financial consequence reporter what i have left is 5 euros 60. 560. 00 per day well yes and if my t. V. Breaks down if im done for if my washing machine breaks im done for thats life always going out for coffee or something no no we dont need that we dont exist anymore. You mean and no one talks about us. This is the smallest amount of money in has had in our lifetime pension isnt enough to live on Social Security covers a rent after other fixed costs like electricity and medicine shes left with 5. 00 euros 60 per day to pay for food cleaning products repairs and everything else. The plaza these priceless these prices would i cant say to myself today im going to buy this or that no i really have to look out for bargains is this comes to just one vandals of the flat when did you last kershaw being apart from food for clothes for example not at all of the last time shopping probably 2530 years ago. She swaps or clothing and saved up all year to buy presents for her grandchildren. Although its quite a challenge right now just all you get used to it was i think over the years ive gotten pretty good at saving and finding the best deals in the city and sure enough well. Get yorkshire to raise 2 children and was a housewife after that she worked at an archive it was only then that she started paying into the pension system. And sponsorship and i worked for 22 or 23 years. So today i know what i tell myself is i didnt work all that long i didnt pay into the system all that long so shut up be happy with what you have. So its quite socialising i dont have money for that so theres lots of things on offer but everything costs money. So you excluded from society yes excluded from society. The vision to his this is it important for you not to let people see how little money you have. 0 very important the dish dishes the most important why the well my Children Health and so on. But no. Thats nobodys business. But when you know you need to earn admiration pity you get for free i dont want that for you. Thats just what do you miss the most the moment when im walking on the street and i see people eating ice cream you can imagine how much id love to sit there and have 2 scoops with fruit and some cream but now i can. Tell myself in that you have to be inventive and thats how you can make life more bearable as well especially if you have a sense of humor and i do believe i have one. Yes you do even if its just gallows humor horrible accu in our shots all the while. Now finding ourselves in a situation where you cant even allow yourself an afternoon snack of something im sure we all want to avoid no matter what gender my colleague daniel spade is very aware of the problems her gender faces in retirement so she decided to get a grip on her finances at an early stage in her career and got some advice and a financial mentoring geared towards women. The war. On them yeah im in my mid thirtys and im starting to worry when i have enough money for the future will i be able to afford things like this when i retired. In 201742 percent of retired women in germany got a state pension of less than 600. 00 euros a month. To subsistence minimum the 735 years on average women in germany get smaller pensions than men they tend to have gaps in their working lives and they pay less into the state pension fund. They wouldnt even cover my rent ive signed up for a private pension plan but even that wont be enough so its time for some change. I dont think it is. Kind of money i can get in mexico i can do that now like i have savings to for my retirement i dont know yet what im going to do about it i have to figure it out but right now its like. I dont know that much as it was in charge of finances and your family so that when i would also retired its actually both of us though im more involved but for me time for that was important for me a quick update and im aware how quickly life can change and my situation can get suddenly critical and for a woman and shes totally stuck in a recent survey suggests only a 3rd of women in germany plan ahead for old age. I really want to get a grip on my finances i have started to knock down every cent i spend theres an app for that. When i get home i transfer all the figures into a spreadsheet so i have an overview. Now i can tell you how much i can put aside for emergencies for example if my scooter breaks down. But what am i going to do with the money thats left over. I turn to the internet for advice on facebook i find a group called madame moneypenny which helps women secure Financial Independence and has 40000 members men arent allowed to join. So it. Is managed by montage of beginning she also makes podcasts and runs a mentoring program to teach women about managing their finances and building up some capital. For part casts have been downloaded more than a 1000000 times. Worse. I asked her why she thinks so many women struggle with these issues. As little as a hold up your money is a mom thing money is dirty and having lots of money means youre egotistical do i deserve to have money for my allowed to be prosperous these are some of the things women often say as well. Im hearing them again and again shapes the way you think about money. And. Power and then theres the notion that girls arent good with numbers. Yeah its just absurd theres a kind of downward spiral i think thats why many women leave Money Matters to all those i mean with this feeling of. Im resolved to take charge of my finances myself and i asked not to should be given she wont invest a 1000 euros in her answer 10 percent she will donate to a charity 10 percent invest in herself by say taking a from a Training Course 30 percent she would invest in emerging market shares and 50 percent in stocks in developed countries but why such an emphasis on stocks rather than of a s a process in the browser this look like strange that the market doesnt care if youre male or female. What color your skin is. Why i really like this kind of investment thats all that matters is getting it right to last a little skeptical to me. A study by u s s of manager fidel and she found that women for from better than men fight 0. 4 percent it may appear to be a minor difference but can have a Significant Impact over time so im going to invest about a 5th of my net income in stocks. As a journalist i often go abroad and often wondering if women in other countries are also hesitant to take charge of their finances. Stephanie oconnell is on a mission to help invasions women feel as confident with their money as they do in their careers you know a generation ago in the United States a woman. With. Her 1st. So yeah woman the match for all the money and build wealth is still a relatively new concept for. Im mad but i stuck to my retirement just as my grandmother used to say money does make you happy you can give your peace of mind. And you lost ground mother sounds like a wise woman so why do so many women often have so much less Financial Support in old age than men are down for you. Why do women earn less. Its not a myth womens wages remain low while mens climb higher and higher this is a fall in germany she earns 21 percent less than a man and she has far less chance of obtaining a company car but where does the difference come from lets look back a couple of decades. In the wake of the 2nd world war in germany there was a shortage of men and women had to take on hard work their fight for just wages was particularly loud women demanded equal pay and they were successful. Then came the bitch office vonda the economic miracle the traditional gender roles returned with a vengeance. In west germany at least they have a could remain a housewife and stay home to take care of the kitchen the kids and her husband. Both socially and legally men were seen as the only breadwinners this role division continued for decades and it continues to affect employment today. Eva chose a typical womens job working in a Human Resources department. Careers in i. T. The Natural Sciences and high tech didnt interest her. The problem is typical womens work is paid less nurses and caregivers often earn less than a Truck Mechanic for example for in addition eva interrupted her career to raise a family and later worked only half days shed never sit in the bosss chair. A vicious circle. As it stands now researchers say evil would have to work almost another 170 years before she finally earns as much as a man equal pay in germany wouldnt become a reality until the year 2187. There are leaders who are working to change the stier prospect trying to build a more diverse and just world among them. She is the director of the Human Resources department at the International Monetary fund a washington correspondent Helen Humphrey so down to talk with her everywhere you look all of the time people are trying to make more of it im talking about money profits while the leaders want to boast about Economic Growth but it turns out quite a lot of countries are missing a trick on that you into a secret when it comes to Economic Growth empowering women to do the jobs they want to do in society means youll make a far lot more cash far quicker and you just have to take my word for it that is the assessment of the International Monetary fund here in washington d. C. Im here to meet kalponik culture she is needing the push for gender and diversity here to find out what country should be doing to capitalize on a sure fire way to grow capital. When we talk about womens empowerment in the workforce of course were talking about equal opportunities were talking about lets face it human rights but to a certain extent all we just talking about money this is about growth too isnt it we believe that talent is distributed equally between men and women inherently and putting artificial barriers on half of your population. Means that youre not getting the best talent into the workforce and that has an impact of productivity that has an impact on profits and ultimately that has an impact on income and the numbers are quite startling they range from about 5 to 10 percent even in advanced countries like the u. S. Or western europe 2 very large numbers ranging to 35 percent in kind some countries in the middle east and south asia so these are not trivial amounts of money and one of the main barrys that youre specifically seeing here at the i. M. F. Across the world they start inequalities of opportunities in at birth in many countries as you know. Theres sex selection even before the child is born assuming that they are born there is inequalities of opportunity in health and in Education Access to finance this could be through differences and how much access you have to Property Ownership of property inheritance and all the countries that keep you awake at night for example with practice that just isnt going to get women where they need to be not just for women but for the health of the Global Economy yeah there are many reasons to to stay awake at night let me let me raise india as one example where. Female Labor Force Participation is low. But what stands out is actually has been declining over the last few years this stands in contrast to many countries say in latin america where a few min they were forced participation was low but over the last 10 years its made significant gains all right so lets talk about the International Monetary fund itself then you are the boss of Human Resources at the head of this organization of course Christine Legarde also a woman but what about throughout the organization is it 5050 between men and women 5050 is actually where we are right now institution wide at the leadership level but were making really Good Progress im very happy to say that right now we have exceeded the target that we set for 2024 women in leadership positions that target was 30 percent and we have exceeded. Called us selfproclaimed or said by regulators thats what it often takes nowadays to help women break through the Glass Ceiling however there are places in the world that are under 100 percent female leadership like in west sumatra which is home of the ethnic group women call the shots there lets take a look at the largest metro lineal society in the world. Shes the boss. So is she. And so is she. Among the mean and care about people of sumatra the women are in charge. Of our women are strong because in our tradition and culture they hold a strategic position but now while the leaders the moral guardians that the pillars on the foundation for the women have a thorough take a thought of what makes this matriarchy even more unusual is that its in a country where the majority of the population is muslim and the power the women hold isnt just symbolic unlike most traditional communities around the world by sons inherit from that follows here it all goes to the women are born with their. Its the woman who owns everything. She owns the house the property the fish poems the rice fields. Everything really really advise me to sit on my thumb at the bottom one. Is one of 2 and a half 1000000 mean women and she lives on the island of sumatra where she produces the most expensive coffee in the world. Most of it coffee beans come from coffee cherries that have been eaten and definitely aged by the asian palm civet its a highly specialized product and popular all over the world. So i also bought another yeah i actually started this business on my own without help from anyone not the government or anybody else so. I started my separate coffee production from 0. To accept of the. Going up as i did obviously. I just thought if other people can do it why cant i. Thats my motto thats why ive survived in the civic Coffee Business to this day. Its typically dominated by men. Is the only daughter in the family so she inherited the house and fields she employs foremost from all over the region and determines the prices herself passed down from one generation of women to the next the 1st thailand of western sumatra has been a source of wealth of the people for centuries. But im born a long way ive. Talked to my whole lot younger so i think theres a lot to learn from me about women. From their selfreliance. From the respect for other women. And from their independence in the bend. When mean and care about couples marry the man moves into the wifes house and whats in hush fields most men come from other families in on the village and opinion about inheritance is divided. In the us if i havent really thought about marriage yet. I know thats still a long way off from a. Girl and its my poor widow who i think we should respect the traditions inheritance should go to the daughter. He has i think men should be leaders they should be men. But in our culture its the women who have the privilege and thats not right if you. Can i get a religion says it should be the men who lead because women need to be protected thats their privilege actually and i think the market is doing right thats the way it should be im not the only person with this opinion now. As i am. A group of. And. I often get into conflict about this with my family. Were going to be all and theres a woman in my family who says men have no rights. Young its not that i have no rights we have duties in the moments just the inheritance that only goes to the woman what. They mean i certainly say from the threat of male dominance that women are in control they have economic power and authority because of what they own. Free men on what about passenger eams of having a daughter when. I gave birth to 3 sons. Fair enough it might take some time until the world has adopted the matriarchal approach until then heres a call to political and Company Leaders how about providing proper daycare for kids so that mothers dont have to worry anymore about whether they are neglecting either their child or their career a long overdue step and the wharf and. Thats our show for this week for me and the entire team here at d w made thanks for watching its yours. Cut. Through the conflict zone with Tim Sebastian closers in the European Parliament elections so shaken off the consulates politics my guest is reviewing stucco goes to tucson and me feet a memory a collapsible to soft some so recent break on the common cold feet european peoples posse what did she tell the foxy. Conflict sophie misperceived only the feel. Something is rotten in the state mark. Its a quote from hamlet homage to our song feels like out today. Show copenhagen 1st 30 year old. Its already shut off the chalet declared his neighborhood account ha ha. Ha ha ha ha mythos mom its a case of to be or not to be. Equal 90 minutes w. Rocking me to. Sing sing with jam to the church. And all the evil feeling that you feel when you. Suppose to. Stop no one is more popular than jesus. And religion a clash that brings many poems to light. Hearted to really sunk your consumable. Come tumbling killing. 17 w. Looking Climate Change you know i think the evidence to a clear and pretty everyday person to the question is what can they do about it so its failed me when i think it could happen dont take all elevators i do i do that every time i think about an elevator on this and theres a still way that i take the stairs. And i try and walk wherever i can instead of going in a car or even in public transport its just me you know doing things that i think would be very calming and we just got out of the habit as it became great museum quick to take automobiles but actually its not very hard to change despairing encourage individuals to i think you know people cumulatively making a difference. 7 south korean tourists have been confirmed dead and at least 21. 00 of still missing after a sightseeing boat sank on the river danube in downtown budapest hungary having collided with another vessel rescuers are now searching for those missing. Israels parliament voted early on thursday morning to hold new elections only a few months after the last elections in april Prime Minister Binyamin Netanyahu has consistently failed to form a coalition
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