Economic crisis in Europe has hit medical research centers across the recession-hit Spain, forcing authorities to fire medical experts working in the centers. The economic meltdown in Europe also forced Spanish scientists to leave the country in a bid to find a place where they can carry out their research studies without having financial problems. On Saturday, Maria Jesus Vicent , who works with a team of nanomedicine experts in a well-equipped lab, the Prince Felipe Research Centre (CIPF), in the eastern city of Valencia said that due to financial problems the team has stopped working.
“We were set to be among the best in this field in Spain. We have made great advances in prostate cancer research. We wanted to go to the next stage with animal tests. But I am waiting to get specific financing for that because I don't have enough money and it's much more expensive than chemical research,” she said.She went on to say that due to economic problems, the country's most talented scientists who were working in the CIPF have left the research centers, adding that “It was tragic to see such talented people having to leave.” This is while the country’s unemployment rate stands at 27 percent, which is the second highest rate among the European Union countries after Greece. Among the youth, the number is even worse with a staggering 56.4 percent of young Spaniards being unemployed. Analysts say that even if the country comes out of recession next year, job creation could lag until much later. On May 3, credit rating agency, Fitch Ratings, said it predicted Spain’s unemployment rate to peak at 28.5 percent in the first quarter of 2014 as government measures such as wage-setting reforms take effect and a contraction in industrial output reaches its limit. Deteriorating economic situation in Europe has created growing discontent among the European public, with many nations across the continent grappling with teetering economies. The European financial crisis began in early 2008. Insolvency now threatens heavily debt-ridden countries such as Greece, Portugal, Italy, Ireland, and Spain. MAM/PR