International journal for equity in health
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Int J Equity Health · Jan 2014
EditorialThe financial crisis, health and health inequities in Europe: the need for regulations, redistribution and social protection.
In 2009, Europe was hit by one of the worst debt crises in history. Although the Eurozone crisis is often depicted as an effect of government mismanagement and corruption, it was a consequence of the 2008 U. S. banking crisis which was caused by more than three decades of neoliberal policies, financial deregulation and widening economic inequities. ⋯ These reforms have not only exacerbated the debt crisis and widened inequities in wealth but also failed to address the root causes of the crisis. In order to prevent a future financial downturn and promote a more equitable and sustainable society, European governments and international institutions need to adopt new regulations of banking and finance as well as policies of economic redistribution and investment in social protection. These policy changes, however, require the abandonment of the neoliberal ideology to craft a new global political economy where markets and gross domestic product (GDP) are no longer the main national policy goals, but just means to human and health improvements.