Friday, October 11, 2013

Fact of the Day

Spain is the most unequal society in Europe, according to a report from the Catholic charity Caritas that finds three million Spaniards now live in conditions of "extreme poverty", and another study that shows the number of millionaires has increased.

6% of Spain's population of 47 million lived on €307 a month or less in 2012, double the proportion in 2008 before Spain was hit by the recession, which has left 26% of its workforce unemployed. The top 20% of Spanish society is now seven and a half times richer than the bottom fifth, which reflects the biggest divide in Europe, says Caritas.

A separate study by Credit Suisse finds that the number of millionaires in Spain rose to 402,000 last year, an increase of 13% on 2011, emphasising the ever-widening gap between rich and poor.

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