Iceland

Iceland, like many countries across Europe, has seen a drop in incomes from work and in capital as a result of the global financial crisis that began in 2007. This has led to a reduction in household income and placed an increasing number of people in the country at risk of sliding into poverty.

A recent report by the Red Cross stated that 9 percent of the Icelandic population (300,000 people) are living below the poverty line, with 13 percent at risk. Numerous survey data obtained over the past decade in Iceland have indicated that approximately 10 percent of the population receive incomes that fall below the stipulated minimum wage and are consequently at risk of living in poverty. Poverty is an unfortunate reality despite the ...