Poverty and inequality in Europe have reached shocking levels, according to a new Oxfam report.
Between 2009 and 2013, the number of Europeans living without enough money to heat their homes or cope with unforeseen expenses, known as “severe material deprivation”, rose by 7.5 million to 50 million people. These are among the 123 million people(1) – almost a quarter of the EU’s population – at risk of living in poverty, while the continent is home to 342 billionaires.
‘A Europe for the Many, Not the Few’ report findings confirm and add to research done by the IMF and others on how rising inequality is making the fight against poverty harder to win. As part of its global campaign against inequality, Oxfam works on tackling poverty across Europe.