iBankCoin
Joined Nov 11, 2007
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Austerity’s Unintended Effects

Austerity has unintended consequences beyond economic malaise.

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One comment

  1. Woodshedder

    The problem is not austerity…from the article: “Patients and hospitals across Spain are wrestling with the same dilemma. Even as old debts get paid off — the country’s 17 regions ran up some 12 billion euros in unpaid health bills through last year — new ones are piling up. As a result, the need to break the cycle with spending cuts threatens to redefine the very notion of Europe’s tradition of socialized medicine: how best to treat patients, not how to make ends meet.”

    The problem is that the hospitals ran up huge debts, and now the bills are coming due.

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