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Luxembourg - low risk poverty country while 1 in 4 citizens at risk EU-wide
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Luxembourg - low risk poverty country while 1 in 4 citizens at risk EU-wide

06.12.2013 From our online archive
In a recent EU survey Luxembourg registered as having relatively low poverty risk while in the European Union as a whole some 125 million people were reported to be at risk of poverty or social exclusion last year, edging up steadily as the economy struggled.

 (AFP) In a recent EU survey Luxembourg registered as having relatively low poverty risk while in the European Union as a whole some 125 million people were reported to be at risk of poverty or social exclusion last year, edging up steadily as the economy struggled.

It said those at risk have risen to 24.8 percent of the population last year from 24.3 percent in 2011 and 23.7 percent in 2008.

The numbers included those deemed to meet at least one of three conditions, at risk of poverty, severely materially deprived or living in households with very low work intensity.

The worst affected states in 2012 were Bulgaria with 49 percent, Romania 42 percent, Latvia 37 percent and twice-bailed out Greece with 35 percent.

The lowest rates were found in the Netherlands and the Czech Republic, each with 15 percent, followed by Finland with 17 percent then came Luxembourg and Sweden, both at 18 percent.

The global financial crisis and ensuing slump brought the EU economy to its knees, sending unemployment soaring as growth disappeared and governments adopted harsh austerity policies to balance strained public finances.