Published: 07/01/2016

Seven years into the economic crisis, Europe is at risk of sliding back into recession and, beyond, to enter a prolonged period of low growth, low inflation, and persistent unemployment, if not secular stagnation.

Inequality among social groups and the gap between member states are both on the rise. Twenty-five million people, including five million young people, cannot find a job. Poverty and social exclusion have exploded as too many women and young people, in particular, are unemployed or in precarious jobs, thereby further increasing labour market discrimination. One hundred and twenty-four million people in Europe are exposed to poverty, including rising in-work poverty, and child poverty is at shameful levels - in some countries every third child lives below the poverty line.

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