I have never been asked for that on European Airports Check points.
They usually ask you
- Where you're going
- What you're going to do
- How long you will stay. Sometimes they even ask you to show them your returning back tickets or reservation.
I once saw a police asking a person to show him how much money this person got. It really depends on how the police look at you…
However, travel insurance is a requisite to enter a Schengen country. In fact, it is stated in every European embassy webpage. It costs about $50 USD for two weeks covering $50,000 USD. I believe you should spare no expense. No one ever knows.
Almost at the bottom of the Wikipedia article on the Schengen area, there is a table of procedures border guards follow when checking travellers who cross external borders of the Schengen area.