• ‘Economy for the 1%’ says 13.4 mn Spaniards risk of social exclusion •
A new report by Oxfam released in Spain by the global NGO’s Spanish affiliate, Oxfam Intermón, says that since the onset of Spain’s economic crisis in 2008 the country has slid in terms of equality of income distribution and is today the country with most unequal income distribution among OECD countries, with some 13.4 million Spaniards (29.9 percent of the population) currently at risk of poverty or social exclusion.
The report, titled “Economy for the 1%,” forms part of a larger global report that Oxfam says will be distributed the world’s economic and financial leaders at the upcoming World Economic Forum annual meeting in Davos, Switzerland, scheduled to begin on Jan. 20th.
According to the Oxfam report, Spain currently finds itself behind tiny Cyprus in terms of income inequality, the spread between the country’s richest and poorest citizens is 14 times greater than in Greece and the gap between the highest and lowest incomes is the second-fastest growing income gap in all Europe, second only to Estonia.
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