‘If the damage being inflicted by the European Union’s austerity measures is not reversed, the number of people trapped in poverty will increase by up to 25 million people. If that is the case, Europe will be facing a “lost decade,” leading philanthropy organization Oxfam revealed in its new report.
“It’s really what’s at stake if austerity measures drag on as they are now. This is the projection, which we found out in this report about the true costs of austerity and inequality in Europe and definitely it’s a massive amount of people falling into poverty, but at the same time people like to highlight that some very few people, the 10 percent richest, will be getting richer. So it’s basically inequality – which is going to be increasing – and the level of poverty, which is also going to be increasing,” Natalia Alonso told RT.
The 29-page report, titled ‘A Cautionary Tale: The true cost of austerity and inequality in Europe,’ argues that the European model is under attack from ill-conceived austerity measures.’
Read more: Up to 146 million risk poverty if EU’s austerity drags on
