More aid to people, less to banks, says Oxfam (Photo: vinylmeister)

Austerity could create 25mn more poor Europeans

Up to 25 million more people in Europe are at risk of poverty by 2025 if governments continue with austerity policies, international aid agency Oxfam has said.

In a study released Thursday (12 September) ahead of an EU finance ministers' meeting this weekend, Oxfam said there are lessons to be learnt from deep cuts made to social spending in Latin America, South East Asia and Africa in the 1980s and 90s, where it took 20 years to get back to recover.

"These policies were a failure...

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