A report on presstv.ir, based on a study by the International Federation of Red Cross and Red Crescent Societies titled “Think differently: Humanitarian impacts of the economic crisis in Europe” states:

The Red Cross says that the financial crisis in Europe has left 43 million of its citizens with insufficient food to eat, calling it the worst humanitarian crisis over a half century.

Bekele Geleta, secretary general of the International Federation of Red Cross and Red Crescent Societies (IFRC) presented a report in Geneva on Thursday over the impacts of the economic crisis.

The report also showed that some 120 million Europeans face the risk of poverty and many continue to suffer in countries that are in the process of recovering financially.

“People’s lives have been thrown into turmoil and there seems to be a gradual degradation, with millions existing on a day-to-day basis, with no savings and no buffer to withstand any unforeseen expenses,” said Geleta and added, “Europe is facing its worst humanitarian crisis in six decades.”

Excerpted from: http://www.presstv.ir/detail/2013/10/10/328709/43-million-people-lack-food-in-europe/ (Oct. 10, 2013)

Also see: “Five years on: The European economic crisis leaves a legacy of poverty”

Comment by Dr. Rajnish Tiwari

“What else if this does not document the need for affordable and ‘good enough’ products & services targeted at price-sensitive consumers? Companies need a rethink of their current business stratgies and innovation practices that are based on opulence, superfluousness, and planned obsolescence! Frugal innovations are not only meant for the emerging economies, we need them in Europe too, in the very heart of the industrialized world.”