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Poverty rate jumped by over 40 pct during crisis, more than anywhere in EU
Greece saw its rate of poverty increase by more than 40 percent during the economic crisis, the highest jump in any EU state, according to a new German study that measures poverty in a “multidimensional” way, considering education, gainful employment, housing and housing environment and health in addition to the standard criteria of income and material deprivation.
The report, by the Cologne Institute of Economic Research (IW), uses the multidimensional poverty index (MPI), first developed by the Indian economist Amartya Sen, to measure poverty from 2008 to 2015.
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