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    Income Inequality Worldwide Reaches All-Time High: OECD Chief

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    Income inequalities worldwide have reached an all-time high, the head of the Organization for Economic Co-operation and Development (OECD) Angel Gurria said Wednesday speaking at the Parliamentary Assembly of the Council of Europe (PACE).

    STRASBOURG, October 1 (RIA Novosti), Daria Chernyshova – Income inequalities worldwide have reached an all-time high, the head of the Organization for Economic Co-operation and Development (OECD) Angel Gurria said Wednesday speaking at the Parliamentary Assembly of the Council of Europe (PACE).

    "We have growing inequalities; inequalities have never been as high as they are today," Gurria said.

    "How bad is inequality? It is 9.5 times – the income of the 10 percent of the poorest in the OECD only – can fit 9.5 times income the 10 percent of the richest," Gurria stressed. "It was 6 times when the crisis started. That means we are going in the wrong direction very fast."

    He continued by saying that in the United States the inequality is even higher and is 14-15 times, in Mexico and Chili – 25-26 times, in Brazil – 50 times, in some African countries – 100 times.

    The Parliamentary Assembly's fall session takes place in Strasbourg from September 29 to October 3, 2014.

    Tags:
    European Union, poverty, income inequalities, economy, PACE, Organization for Economic Cooperation and Development (OECD)
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