Posted by: Tobias | February 3, 2009

Die Fuggerei

The Wall Street Journal on ‘Die Fuggerei‘, a rather strange part of Augsburg, Germany:

Every day, retired florist Rita Wunderle prays for the souls of bankers.

Despite daily headlines about banker-fueled economic crisis and an alleged $50 billion Ponzi scheme, her 145 neighbors pray, too.

Mrs. Wunderle lives in the Fuggerei, a Roman Catholic housing settlement for the poor that Jakob Fugger “The Rich” built in this southern German city nearly 500 years ago. Praying for Mr. Fugger and his descendants to enter the Pearly Gates is a condition for living here, at an annual rent of 1 Rhein guilder, the same as in 1520. In today’s money, that’s 88 euro cents, or about $1.23.

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