How would you define poverty if you were cumulatively looking at the world economy?
The current measure the UN uses is $1 a day, of which 20% of the globe is at or below, that is approximately 1.2 billion people. Which is slightly more than 4 times the US population.
I would define poverty as being around $5 a day.
The cost of living is significantly lower, even in some European Countries, than it is here. You could live in France for $15/day let alone, say, Poland.
The cost of day to day living is substantially higher in many Western European countries (unless you consider some social benefits, like subsidized day care, education or medical care). A single short tube ride in London would set you back over $5 USD vs. $2 USD in New York (even with prepay "Oyster Cards" and all, it would still be nearly $3 dollars), and it would be more for a longer ride. Most groceries are far more expensive in England as well. A smallish one-bedroom apartment in Birmingham would be around 700 pounds (about $1250) a month - I don't want even to think what it is in London (5 years ago a friend was renting a nice but somewhat decrepit place near Paddington station for about 3000 pounds a month - this was far more than anything like that would be in New York; as he said, "Brits don't live here - it's too expensive for them").
To a lesser extent same is true of much of the continental Europe. You might be able to live ok somewhere in France for $15 (what is it, 13 euros?) - but not in Paris, or, at least, you won't be living any better there on $15/day than you would in NYC (come to think of it, I used to live on some $20/day after rent in NYC, and it was ok, but I was a grad student and it was some time ago; hey, as an undergrad in Long Island in the early 1990s I spent much less than 5 dollars a day, not counting the cost of the dorm and tuition, which, mercifully, my scholarship paid for - I was dreadfully poor - but was that living? An all ramen noodles diet seasoned with the free ketchup from the cafeteria, and you have to think if you really want to open an extra package, or if you can afford laundry this week; a $1.25 bus ride seemed nearly an impossible luxury). The last two summers I've been in Madrid, Barcelona, Paris and London, and all of them I found very expensive, compared with the US (perhaps, because I don't know where to get the cheap stuff there). The only place I thought was cheap was Galicia (the northwestern corner of Spain) - but that is a relatively poor province of one of the poorer Western European countries. Eastern Europe is another matter, of course.