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Warning: The credit crunch is bad for your mental health

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Published Date: 30 June 2008
RISING numbers of Scots are seeking help for depression and anxiety brought on by the global credit crunch, experts have said.
Fears over the housing market, growing fuel prices and consumer debt have increased substantially in the last year, sparked by the crisis in the global economy. Now evidence is starting to suggest people's mental health is suffering along with their
bank balances.

The Priory Hospital in Glasgow has opened new consulting rooms in Edinburgh to deal with a surge in demand, thought to be a result, in part, of growing financial concerns and pressures at work.

Mental-health campaigners also expressed fears about the impact the credit crunch would have in increasing cases of anxiety, depression and stress.

Patients at Glasgow's Priory which offers therapy for a range of psychiatric problems, have increased 40 per cent year-on-year.

The hospital – which nationally is better known for celebrity rehab clients such as Kate Moss, Kerry Katona and Tara Palmer-Tomkinson – has also seen a 20 per cent increase in patients coming from Edinburgh and the east of Scotland. It has opened an outpatient clinic on Thursdays in St Andrew Square, Edinburgh, to deal with the larger intake of patients.

Dr Alex Yellowlees, medical director of the Priory in Glasgow, said the growth in demand was significant.

"In the last six to nine months, we have seen a noticeable increase in people referred with depression, anxiety and stress-related disorders," he said.

"I think this is probably a reflection of the stress we are currently under, due to the economy and the pressures this puts on society. For some, it can just tip them over the edge and they can start to suffer with low mood, anxiety and depression."

Yvonne Gallacher, chief executive of Money Advice Scotland (MAS) – which represents agencies providing free financial advice – said they had seen an increase in people coming forward with mental-health problems.

"It is becoming a major concern for us," she said. "The problem is that it becomes a circular thing. People have financial concerns, get into debt and their mental health suffers. Because of their mental-health problems, they are less able to cope with financial concerns and get out of debt, so the problem goes on."

Charlie McMillan, of the Scottish Association for Mental Health (SAMH), said: "In our experience, people who are already having money problems can find the stress of this kind of situation all the more challenging, and it can lead to serious mental-health problems," he said.

Chris Fitch, a research fellow at the Royal College of Psychiatrists, said debt could be associated with anxiety and stress, depression and even self-harm and thoughts about suicide. "Being in debt can also result in people becoming socially isolated, because they can't afford to go out, strain being placed on relationships and cutting back on goods and services which can affect their health," he said.

'I had to keep on going like a hamster in a wheel'

MARY Green's anxiety and depression left her feeling like "a hamster in a wheel" as she was driven towards achieving more and more at work.

In her high level professional job in the healthcare sector, she was well used to the pressures that came with her position. But her self-drive eventually led her to breaking point.

Now it seems that more and more Scots are falling victim to the pressures of the workplace, many finding their situation even more difficult due to fears about the economy.

Ms Green suffered from depression for some time before seeing her GP and being prescribed antidepressants.

She is now receiving therapy at the Priory Hospital in Glasgow, including anxiety management and relaxation techniques.

The 54-year-old said:

"I felt very agitated all the time. I could not stop or relax. I had to keep on going like a hamster in a wheel."

Ms Green said that through therapy she had been left better able to cope with her depression and anxiety.

"The treatment I have had has been very successful," she said. "The therapy has helped me deal with what I was going through."





The full article contains 700 words and appears in The Scotsman newspaper.
Page 1 of 1

  • Last Updated: 29 June 2008 9:43 PM
  • Source: The Scotsman
  • Location: Edinburgh
 
1

Charles Linskaill,

Edinburgh 30/06/2008 00:03:50

"Warning: Boy Wonder is bad for your mental health"


Well he is for mine! :))
2

Boy Wonder,

30/06/2008 09:43:01
Chuckles Linskaill is good for your mental wellbeing.

Read his posts and thank whetever god you follow for not being like him!
3

Capital Boy,

30/06/2008 10:49:59
hey boy wonder, do you think #2 is #1's little sychophant ?
4

G,

dundy 30/06/2008 15:24:12
The link between the credit crunch and increased diagnosis and/or presentation of mental health problems is as solid as the evidence between sunspots and the nationality of the winners of wimbledon....just because two things happen at the same time does not constitute a link....

 

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