He also has bank savings accounts worth $20,000 to $110,000.

Gone are the days when Hisashi Ishigaki could spend the fruits of his bank savings on home repairs and new shirts.

The negative returns on Chinese bank savings have also helped to create huge bubbles in property, tea, fine wine, and jade.

Besides the bail-outs of both Fortis and Dexia, the government also guaranteed all bank savings up to €20,000.

The 35-nation survey counted only bank savings.

Medvedev's reported 2007 annual income is $80,000, and he reported approximately the same amount as bank savings.

Additionally, Indos were allowed to cash in 30% of their bank savings and send their children to school again.

People over 55 have seen their bank savings fall by 27pc this year.

It makes a non-charitable loan of £7,000 and invests the balance in a bank savings account.

And all the while, the little guy watches the interest on his modest bank savings dwindle to nothing.