Greeks sinking deeper into poverty

Despite massive rescue funds from the EU and IMF which have saved Greece from bankruptcy, austerity measures linked to the bailout programme have pushed Greeks deeper into poverty

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Change in percentage of population who are “severely materially deprived”*

EU members, 2008-2015

Increase Decrease

EU27 average: 0.5

United Kingdom 1.6

Netherlands 1.1

Ireland 2.0

Belgium 0.2

Luxembourg 1.3

Spain 2.8

Portugal 0.1

Sweden 0.7

Denmark 1.7

France 0.9

Austria 2.3

Slovenia 0.9

Germany 1.1

Italy 4.0

Finland 1.3

Poland 9.6

Croatia†

Malta 3.8

Estonia 0.4

Latvia 2.9

Lithuania 1.4

Czech Rep. 1.2

Slovakia 2.8

Romania 10.0

Hungary 1.5

Bulgaria 7.0

Greece 11.0

Cyprus 6.3

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*EU poverty measure, defined as inability to afford at least four of following items:

(1) mortgage, rent or utility bills

(2) heating to keep home sufficiently warm

(3) unexpected financial expenses

(4) regular meals with meat or proteins

(5) one week’s holiday away from home

(6) television set; (7) washing machine

(8) car; (9) telephone. †No data

Increase in rate of severe material deprivation is highest in EU – rising from 11.2 percent in 2008, when global financial crisis began, to 22.2 percent in 2015

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Source: Eurostat 

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