Cross-posted from Zero Hedge
Despite a resurging stock market and stabilized bond risk premia (cough Draghi cough), EurActiv reports the proportion of children living below the poverty line in Spain has increased by 9 percentage points between 2008 and 2014, to reach almost 40%.
Spain has the EU’s third highest rate of child poverty, after Romania and Greece, EURACTIV Spain reports. While child poverty in general rose significantly, the sharpest increase (56%) was among households of four people (two adults and two children) living on less than €700 per month, or €8,400 per year.
Spain has the third widest gap in the EU, behind Latvia and Cyprus, between the levels of social protection offered to children and people over 65. During the crisis, Spain’s oldest citizens were much better protected than its youngest.
According to the Spanish Statistical Office, cited by Unicef, investment in the social protection of families fell by €11.5 billion between 2009 and 2015. Child poverty increased in most developed countries between 2008 and 2014, according to the report, and by two thirds in European countries.
But it’s not just children, Spanish poverty rates across the whole nation remain extreme.
Still as long as stocks are stable and bond yields low, Europe is ‘fixed’.