Edward Hugh on the Spanish economic situation

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This topic contains 7 replies, has 6 voices, and was last updated by Profile photo of Fuengi (Andrew) Fuengi (Andrew) 4 years, 7 months ago.

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  • #56802
    Profile photo of Anonymous
    Anonymous
    Participant

    Required reading for anyone interested in the Spanish economic situation. Edward is actually in Spain, and one of the best-informed commentators around:

    Chewing Gum And Chicken Wire Will Not Be Enough To Save Spain – Part 1

    Chewing Gum And Chicken Wire Will Not Be Enough To Save Spain – Part 2

  • #108529
    Profile photo of GarySFBCN
    GarySFBCN
    Participant

    It will be interesting to see the reactions of those who read the entire interview.

    I do question why Hugh does not examine how to reduce the ‘50%’ costs of health care, caring for the elderly and education without having a negative impact upon those services. It can (and has) be done elsewhere, in small measures within specific disciplines. Nobody seems to have the will to piece these efforts together, massage that group into a macro-level plan for savings and better outcomes.

    And I do wince when people complain about the ‘expectation’ of ‘world class’ health care. It should be the norm in every country.

    In the US, the Republican members of Congress complain about those who have ‘Cadillac’ health insurance (presumably, at the expense of others), which is ironic because members of congress have that same Cadillac insurance.

    Anyway, thanks for posting, Mark.

  • #108537
    Profile photo of Anonymous
    Anonymous
    Participant

    Gary sure you can make the spending on health care more effective but in the long run the costs in spain for it is enormous. You should at least try effectivize all areas of goverment spending all the time. Spain needs an economic “dictator” that will be hated in the short term but 20 years down the road people will congratulate his doings.

    Rajoy is to scared to be brutal about this but everything needs to be slashed at the moment. He can’t pander people anymore.

    It’s the normal problem with democracy. If you take away the benefits of one group you can a lot of times you can many times create a more efficient economy but the problem is that you just lost that groups votes and the saving for the rest of the groups for them to take notice of it. This can only be fixed by people being in totally control of most of their own choices and limit the tyranny of the majority.

  • #108538
    Profile photo of peterhun
    peterhun
    Participant

    @garysfbcn wrote:

    It will be interesting to see the reactions of those who read the entire interview.

    And I do wince when people complain about the ‘expectation’ of ‘world class’ health care. It should be the norm in every country.

    In the US, the Republican members of Congress complain about those who have ‘Cadillac’ health insurance (presumably, at the expense of others), which is ironic because members of congress have that same Cadillac insurance.

    Its odd that they have no problem spending money to Kill Brown People.

  • #108547
    Profile photo of Fuengi (Andrew)
    Fuengi (Andrew)
    Participant

    @garysfbcn wrote:

    It will be interesting to see the reactions of those who read the entire interview.

    I do question why Hugh does not examine how to reduce the ‘50%’ costs of health care, caring for the elderly and education without having a negative impact upon those services. It can (and has) be done elsewhere, in small measures within specific disciplines. Nobody seems to have the will to piece these efforts together, massage that group into a macro-level plan for savings and better outcomes.

    agreed.

    Especially as the saving they are planning to do in these areas are impressive and will not have a large impact on ‘end users’.
    For example. Pensioners will now have to pay 10% of the cost of the medicine on prescription, with a cap of 18€ per month (total). Might not seem much as but as previously was totally free, should help. workers will have to pay 60% cost of medicine as opposed to 40%.
    In regards to education, they are looking at raising university fees.
    Also it would be nice if he looked more into the potential benefits of the labour law changes, the improvements they are looking at doing to the ‘self-employed’ system, etc….

    But then, since so many economists, etc… tend to be all theory and no practice, they don’t tend to look at the practical aspects.

    Also about the increasing age of the population. Spain just seems to be following the pattern of most western european countries. The biggest ‘age group’ is now in the 30s which seems to be the time in ‘modern’ economies when people start to have families now, as opposed to before where it was in the 20s. Also the population of spain increase by 7 million people between 2000 and 2010. Many european immigrants are moving to spain aswell with children, etc….
    There are also a shortage of school place in many locations, tends to me too many children, not, no enough.

    my thoughts anyway

  • #108550
    Profile photo of GarySFBCN
    GarySFBCN
    Participant

    Especially as the saving they are planning to do in these areas are impressive and will not have a large impact on ‘end users’. For example. Pensioners will now have to pay 10% of the cost of the medicine on prescription, with a cap of 18€ per month (total). Might not seem much as but as previously was totally free, should help. workers will have to pay 60% cost of medicine as opposed to 40%.

    I am thinking more macro in services. For example, provide prenatal care in ‘groups’ and not individually, is a huge cost savings and has better outcomes (longer gestational time, fewer low birth weight births) and it also creates an additional social/peer support group.

    There are lots of other ways as well.

  • #108551
    Profile photo of logan
    logan
    Participant

    Spanish unemployment hits new record. Quote: “Spain is in a crisis of huge proportions,” Foreign Minister Jose Manuel Garcia-Margallo

    http://www.bbc.co.uk/news/business-17866382

  • #108588
    Profile photo of Fuengi (Andrew)
    Fuengi (Andrew)
    Participant

    @garysfbcn wrote:

    I am thinking more macro in services. For example, provide prenatal care in ‘groups’ and not individually, is a huge cost savings and has better outcomes (longer gestational time, fewer low birth weight births) and it also creates an additional social/peer support group.

    There are lots of other ways as well.

    I beleive they fo provide prenatal groups (at least in andalucia).
    But Spain main medical costs (as far as i understand) has been medication costs. I believe that ‘average’ cost per person in medication in spain is 230€ a month. Which would have been costing the state billions. Then there is another billion or so for treatment by EU citizens that should be reclaimed from the relevant government, etc…. Then there is lowering of cost by promoting generic medication.

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