Europe’s Economic Crisis

Spain’s economic crisis is a problem that is not only affecting its country but the whole world. Therefore the United Nations should encourage its members to help contribute on stabilizing the economy in this country for the situation not to worsen. This crisis is not only impacting the citizens of Spain economically, but it is also affecting them psychologically. Another point that has to be taken into account is that this problem is now contagious to other parts of the world making the situation an international crisis. Finally, there is a collapse of the euro that is affecting not only a few countries in Europe, but also the whole European Union.

Psychological damage is a big problem that has flourished since the crisis began. Mental health problems are related to economic instability, poverty, and deprivation. There has been a rise in unemployment that has increased the number of people living in terrible conditions.

Since the crisis in Spain began, the economic shocks have affected the education and health systems. It has been proved that employment benefits mental health because when people have job security and a sense of control with economic income for themselves or their family, they have their mental health stabilized. The United Nations suggests??? Citizens that have a high income, have the means to help Spain get out of this economic depression. This also has increased the levels of alcohol consumption that researchers have linked to increased suicide rates especially among men. It is a problem that needs to be solved not only for the economic stability of the country, but also for the well being of its citizen’s mental health.

The Spain economic crisis is affecting not only its own citizens but also internationally. The crisis has had a very large impact on the global financial market. The effect has been larger in countries that have a large trade exposure to Spain. The crisis is now spreading to other countries of the European union including Italy, Greece, and Portugal. As the crisis spreads, it can be harmful for the entire world. Countries with more developed financial income and economy could not only help Spain get out of this catastrophe, but all the countries in the European Union that have been affected.

This problem has been a collapse of the euro. German companies are still wealthy, and are preparing themselves to the possibility of losing business contacts in Spain because of their economical instability. This can lead to increasing unemployment and worsening the economy of the country. If the problem continues to worsen millions of businesses and companies are going to be bankrupt. Of Europe would be in a deep recession. The Spanish government would have to drastically increase taxes or impose financial burdens that will negatively affect citizens more than it already has.  The United Nations has to take part in this situation because it is a problem that is expanding into the international arena and it is going to become a major international problem. If the members of the United Nations step in to bailout the Spanish economy, it might prove to be beneficial for the rest of the European community and the rest of the world.

 

Bibliography:

Fears Grow of Consequences of Potential Euro Collapse. (N.d.). SPIEGEL ONLINE. Retrieved December 12, 2013, from: http://www.spiegel.de/international/europe/fears-grow-of-consequences-of-potential-euro-collapse-a-840634.html

Impact of economic crisis in mental health. (N.d.). World Health Organization. Retrieved December 13, 2012, from : http://www.euro.who.int/__data/assets/pdf_file/0008/134999/e94837.pdf

By: Juliana Zeller

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