The OECD defines the well-being of an individual or a society as comprising two major, complementary pillars. Material conditions constitute the basis of subsistence and economic security. They include income, employment stability, access to decent housing, and the ability to meet essential daily expenses. Quality of life represents the non-economic dimension of life. It focuses on personal and social well-being and encompasses health — both physical and mental — education, including knowledge and skills, and work–life balance, including leisure and time spent with others.
At first sight, all of this may seem easy to achieve, but in practice it is not. Numerous internal and external factors influence these conditions, resulting in profound inequalities within the society in which we live.
The reality before us is shocking. The Global Multidimensional Poverty Index (MPI), developed by the United Nations Development Programme (UNDP) in partnership with the University of Oxford, measures poverty beyond income by assessing daily deprivations in health, education and living standards, such as access to sanitation, electricity and clean drinking water. Approximately 1.1 billion people worldwide live in acute multidimensional poverty. More than half of this total — 584 million people — are children under the age of 18.
These figures stand in stark contrast to those in Capgemini’s World Wealth Report 2026, which states that the number of millionaires increased by 7.9%, reaching a record 25.3 million people. Approximately 2 million individuals entered this category in a single year. The accumulated wealth of this group increased by 8.7%, reaching US$98.3 trillion — the largest annual increase recorded since 2018. In Europe, the millionaire population increased by 6.5%, while in Portugal the number reached 181,000 millionaires, in a country with a population of 10 million.
We are facing an extremely serious problem: every year, poverty increases around the world while extreme wealth also continues to grow. We are witnessing a pattern of economic inequality that has been worsening over recent years.
What kind of balance do we need? From an economic perspective, the ideal balance is often measured using the Gini coefficient — a scale ranging from 0 to 1, where 0 represents perfect equality and 1 represents maximum inequality. A Gini coefficient between 0.25 and 0.35 is considered by many sociologists and economists to represent an ideal balance, as is commonly found in the Nordic countries. It allows people to become wealthier through merit while maintaining a robust social safety net that prevents poverty from spreading.
In short, the ideal balance is achieved when wealth creation functions like a rising tide that lifts all boats — large and small — rather than only the yachts of the wealthiest.
To help minimise this problem, the European Commission established the Fund for European Aid to the Most Deprived (FEAD) in 2014, with an initial allocation of more than €3.8 billion for the 2014–2020 period. European Union Member States supplemented this amount with national co-financing of at least 15% for their respective national programmes.
The Fund was created to help alleviate the most severe forms of poverty in the European Union, including food deprivation, child poverty and homelessness. It provides those most in need with essential items, such as food and basic necessities, including clothing, shoes and personal hygiene products. It also promotes social inclusion through measures such as psychological support and language courses.
To implement the programme, a network was established comprising various organisations and stakeholders, including managing authorities (MAs), partner organisations, other local, regional and national actors, representatives of the European Commission, EU-level partner organisations, the wider EU community, and academic and research organisations. Every year, approximately 13 million people benefit from this Fund.
In 2023, FEAD was integrated into the European Social Fund, and five Communities of Practice were established, focusing on areas such as material support; employment, education and skills; migrant integration; social inclusion; and social innovation, to continue this work.
From the outset, Parents International has followed this project, actively contributing to it and bringing the perspective of parents and families across Europe to the discussion. During the visits organised for us, we had the opportunity not only to meet the organisations working on the ground, but also their beneficiaries.
Through their stories, they told us of their constant struggle for a better life, the dangers they had faced, the barriers imposed upon them, and their immense strength and determination to secure a better future for themselves and their families. Their stories were a profound lesson in life and continue to encourage us to believe that the work carried out by all the organisations actively participating in the programme is not in vain.
This is not easy work. On the one hand, the European Union provides funding and encourages its Member States to eradicate poverty. On the other hand, certain countries, whose governments pursue ineffective economic policies and implement cuts to social provision, actively contribute to perpetuating this enormous scourge.
In a world where wealth grows alongside poverty, it is the organisations working on the ground that, despite setbacks, shortages and exhaustion, transform solidarity into resistance and dignity into a future worth fighting for.
What kind of Europe do we want to build for future families on this foundation?
Herminio Corrêa
Member of the Parents International Supervisory Board
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