Cost of Living Crisis - An explainer
Europe remains in the grip of the worst cost of living crisis of the past 50 years, with staggering inflation and looming energy bills eroding wages for people across the continent. Over the past year, food and rental prices have gone through the roof, while thousands of people are losing their job as a result of the energy crisis.
Yet not everyone seems to be losing out. Energy companies, pharmaceutical corporations, big tech and multinationals operating in the food and luxury sectors have all been raking in billions of euros in profits.
This ravaging inequality is the result of decades of neoliberal reforms and austerity, trampling labour rights while cutting social spending. This is not the time for hesitant recommendations, a radical overhaul of the current state of affairs is needed, protecting the lives and dignity of workers across Europe: increase pay, tax profits and stop speculation.
Cost of Living Crisis - An explainerEN