The global recession, which hit recently, has undoubtedly affected everyone. Governments across the world are now facing the difficult challenge of cutting huge spending deficits and getting the cogs of the economy turning again.
One of the most damaging results of the recession is unemployment; thousands of people have lost their jobs and are struggling to manage on a tight family budget. Losing your job affects the way you live your life, in terms of what you spend your money on and how much disposable income you have, but it also affects your self-esteem and confidence and many people suffer from stress and depression after losing their job. Financial worries, coupled with mental health problems, can lead to arguments, increased stress and strain on relationships. Losing money can also affect the amount of money you have to spend on your health; for example, many dentists in Nottingham found that an increasing number of patients were cancelling appointments because they couldn’t afford treatment. Even NHS care, which is heavily subsidised, can be too expensive for some, with treatments such as cosmeticdentistryguide.co.uk/articles/root-canal.html treatment, costing nearly £50.
The housing and property market was also hit hard by the recession, with house prices dropping, banks tightening up and refusing to lend money for mortgages and new businesses and many shops closing down. Many local high streets now have shops, office units and dental businesses for sale. Now, house prices are starting to creep up gradually and banks are starting to lend again, but there is still a long way to go and the economy still lacks stability. Fears over the stability of the Euro zone have also sparked widespread fears on the global markets and this will affect countries all over the world, not just those directly involved with the Euro.