'Millions more' Europeans at risk of poverty if austerity drags on If left unchecked, austerity policies could put between 15 and 25 million more Europeans at risk of poverty by 2025, said the agency. This would bring the number of people at risk of poverty in Europe up to 146 million, over a quarter of the population, warned Oxfam ahead of a EU finance minister meeting in Vilnius. Oxfam said that there are lessons to be learnt from deep cuts made to social spending in Latin America, South East Asia and Africa throughout the 1980s and 90s, noting that some countries in these regions took two decades to claw their way back to square one. There are alternatives to austerity. Ahead of (Friday's) EU finance ministers' meeting, we're calling on European governments to champion a new economic and social model that invests in people, strengthens democracy and pursues fair taxation. Governments could raise billions for public services, such as health and education, by taxing the wealthiest and cracking down on tax dodging. A new model of prosperity is possible. Investing in schools, hospitals, housing, research and technology, millions of Europeans could be put back to work and support a sustainable economy," Ms Alonso said.