Countries Most Affected By Economic Crisis in Eurozone Are Having High Suicide Rate

We sometimes forget the real effect of the statistics that we report on unemployment and economic growth and decline. This article reports on the substantial increase in suicides in the eurozone economies with debt problems. Suicide, of course, is an extreme response by those most vulnerable, and those without a strong support structure. Its harder to calculate the anguish of those who are unemployed, or who lost their confidence in their future well being. So much of our identity is associated with our work and our ability to provide for our families.

These tragedies are made worse by an examination of the causes, and the manner in which the crisis has been managed. Banks seeking profit opportunities made too many bad private and public loans. Private and public entities borrowed more that they should have as well. The consequences of over lending and over borrowing have been asymmetric. The shareholders of many banks have seen the value of their stocks decline, but governments have acted to keep most of the banks afloat and most of the bank executives are still working and are being well paid. Moreover, the austerity measures imposed on the debtor nations have exacerbated their debt problems. Some of the suicides, reported in this article, were related to delays in payments by governments to individuals and small business owners.