Local view for "http://purl.org/linkedpolitics/eu/plenary/2008-10-08-Speech-3-989"
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"en.20081008.28.3-989"2
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"Following the recent, in fact current, financial and economic upheaval and the global repercussions, I feel there is a necessity to re-evaluate the definition and thresholds of poverty.
I am concerned that a significant amount of poverty is not as obvious as it was decades ago but I am afraid it is just as real. The contemporary lifestyle helps camouflage this new poverty to a large extent.
The purchasing power of many households is being eroded by sharp increases in costs in general, and especially those relating to food, health and energy. Families with low incomes, pensioners, the unemployed and other niches within our society are at risk of becoming vulnerable and will struggle to survive as these costs represent the largest share of their monthly budget.
The performance of economies worldwide is expected to deteriorate rapidly as a recession is expected to take over. This would inevitably create instabilities in all sectors of the economy. Reductions in social programmes and services would compound the problem for those who are experiencing an erosion in their purchasing power.
I feel that the Union and the Member States have to address this issue to reduce the drastic inequalities and hardships that hidden poverty is having on many EU citizens."@en1
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