Gloomy Christmas in the Eurozone

Italian consumer confidence dropped in December to its lowest level in 16 years, and the economy shrank in Q3 with the government predicting additional contraction in Q4. Italy is in its fourth recession since 2001.

Still, that is not as bad as what Greeks are enduring under tight austerity measures that have seen major cuts in health care spending that have left many of the poor and unemployed struggling to find necessary care. The New York Times reported that in two years the Greek government has cut some $2.5 billion from its health care spending, reducing it 13% from $19.5 billion to $17 billion. New agreements to cut debt will force it to search for additional cuts of $915 million in 2012.

While the health care system was considered bloated and corrupt, and some 20 doctors have been arrested for corruption, the flip side of the coin is that public health clinics in Greece have seen a 25-30% increase in the number of patients coming to them—people who can no longer afford to get private medical care.

Other cuts have taken a toll, as doctors complain about faulty supplies and generic drugs that are ineffective. But the worst may be a budding public health crisis, as people are unable to afford vaccinations for their children and many who need lifesaving cancer surgery and other treatments are turned away for lack of payment or resources.