The trap of austerity: inequality and poverty

La trampa de la austeridad: desigualdad y pobreza
A third of the newly poor europeans in 2025 could be Spanish

The austerity policies, could boost the in around 25 million the number of europeans living in poverty by 2025, 8 of which will be Spanish, which assumes that our country would bring one out of every three of the new poor of Europe to that date. These are some of the data that emerge from the report is The trap of the austerity published by Oxfam Intermón.

The austerity programs of europe have dismantled the mechanisms that reduce inequality and enable equitable growth. With the increase of inequality and poverty, Europe is facing a decade of loss. If the austerity measures continue, in 2025 between 15 and 25 million europeans more would be in poverty. Oxfam knows this because he has already been witness to similar situations. There are clear similarities between these programs of austerity and the ruinous structural adjustment policies imposed on Latin America, East Asia and sub-saharan Africa in the decades of 1980 and 1990. These policies were a failure; a treatment that sought to cure the disease by killing the patient. This must not be repeated. Oxfam is calling on european governments to abandon austerity policies, and instead opt for the path of inclusive growth that favours the people, communities and the environment.

The report is The trap of the austerity highlighted that the austerity measures put in place to balance the accounts are causing more poverty and inequality, and it can take over two decades to return to the poverty rates for 2008.

If not corrected, our country could reach 20 million poor people by 2025 (42% of the population), and increasing inequality.

There are solutions, but they are for abandoning the austerity policies and put in place measures to ensure equitable growth.

Recommendations for a change of course:

  • Investing in people, giving priority to the economic stimulus, the creation of employment and official development assistance.
  • Invest in the public services: education and health care is public, universal and quality for all people.
  • Strengthen institutional democracy: greater participation, greater transparency and greater democracy in the workplace.
  • Develop fair taxation systems through reforms, progressive tax, tax the accumulation of wealth and a tax on Financial Transactions


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The trap of the austerity

Streaming: the Act of Presentation


The true cost of inequality in Europe

September 18, 2013 took place the presentation of the report The trap of the austerity measures in the Circle of Fine Arts of Madrid. Intervened:

  • Teresa Cavero (senior Researcher, Oxfam Intermon).
  • Jose Juan Toharia , President of the Middle).
  • Federico Poli (Director of the Economic Affairs Division. Ibero-American General Secretariat).
  • Soledad Gallego-Diaz (Journalist, The Country).
  • José María Vera (Director-General of Oxfam Intermón)

Source: Oxfam Intermón

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