Increasing poverty in the European Union (3 graphs)

9 Apr

Flash 9/4/2015 Merijn Knibbe

Did poverty rapidly increase in countries like Greece? Yes, according to Eurostat data. The poverty level in Greece is after steep increases at the moment the highest of any non-Eastern European EU country. Indices of ‘material deprivation'(see below) also show steep increases in Hungary as well as (albeit at a lower level) in Italy, the UK and Spain. In the Baltic countries comparable increases could be witnessed, though levels are going down at the moment. Poland, close to the Baltic countries and having a somewhat comparable economic history, did however not witness any kind of ‘Baltic’ increase. Remarkably, the level in Iceland, which also experienced a financial crisis but which pursued a less creditor friendly policy, did not increase.

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Real World Economics Review Blog, March 3, 2015

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