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Rising inequality could set the fight against poverty back by decades, Oxfam warned today as it published a new report showing that the number of billionaires worldwide has more than doubled since the financial crisis. 

The number of unaccompanied refugee and migrant children arriving to Europe through Italy has doubled this year and Europe is failing to properly support them, a new Oxfam report reveals.

If left unchecked, austerity policies could put between 15 and 25 million more Europeans at risk of poverty by 2025, bringing the number of people at risk of poverty in Europe up to 146 million.

European border closures and restrictions are dramatically worsening the humanitarian crisis for refugees and migrants and a decision to shift the EU’s responsibility for refugees to Turkey would see the bloc bargaining its core values and abandoning fundamental legal obligations. 

The European Union has adopted a new approach to foreign policy dubbed the “Global Gateway,” supported by a new European Financial Architecture for Development (EFAD). These policies are a direct response to the state of permacrises that the world finds itself in. It seeks to inject 180-300 billion euros over a period of six years into the EU’s partner countries in the form of infrastructure projects, a green transition and digitalisation. 

European Union member states should urgently relocate unaccompanied children from the Greek islands to safety in their territory, 65 human rights, humanitarian and civil society organisations said in a statement today.

The fortunes of Latin America’s 73 billionaires surged by $48.2 billion since the beginning of the pandemic even as the region buckles as one of the worst-hit regions in the world, said Oxfam today. 

Runaway inequality has created a world where 62 people own as much wealth as the poorest half of the world’s population combined, according to an Oxfam report published today ahead of the annual gathering of the world’s financial and political elites in Davos.