Two out of every five Europeans cannot pay their bills. 46% say they have grown destitute. In Italy, one in every three people has given up on healthcare.

europe economic crisis 2023
Europe economic crisis 2023


The unusually warm weather of late autumn and early winter lowered energy usage but not inflation. Food costs are expected to rise in 2023, and the year began with rising gasoline prices, while power and gas bills remained high. It happens in Italy, as it does across Europe. As a result, the European middle class is sinking into poverty. In 2022, 46% of African residents claim that the increasing cost of living has already affected their income. Another significant proportion, 39%, is concerned about impending poverty. This is what the latest Eurobarometer figures show, a periodic poll undertaken by the EU Parliament in the 27 EU member states.


As previously stated, the crisis impacts all of Europe, with minimal distinctions between countries, at least in terms of consumers' perceptions of their buying power. The French are among the most concerned: 62% believe their standard of life has declined in the past year. The Dutch and Austrians, on the other hand, have 33%, while the Swedes have 24%. With 40%, it is halfway between the Italians and the Germans.


Returning to the European level, more than seven out of ten respondents expressed concern about growing living costs. Greece (100%), Cyprus (99%), Italy and Portugal (all 98%) had the highest numbers. The threat of poverty and social isolation is the second most mentioned concern (82%), followed by climate change and the spread of violence in Ukraine to other countries (81%). Climate change, poverty, and social exclusion rank second (both at 92%) in Italy.


Another sign of worsening economic conditions is a nine-point increase in the percentage of residents experiencing bill-paying issues "most of the time" or "sometimes," from 30% to 39% since the autumn of 2021. This figure is 64% in Italy. Another poll performed by Ipsos on behalf of the Secours populaire organization in six nations, including ours, reveals the degradation of European society: 40% of those polled in Italy claimed they had to approach a cousin or a friend for a loan, 36% had to forego treatment despite having a health condition, and 16% went to an association for a meal or clothes.
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