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Increased risk of heart attacks by bank crisis
It has been claimed by researchers at the University of Cambridge that thousands could die if the Northern Rock crisis occurs again with other banks, with the elderly most at risk.
It is claimed that this is the first study into the link between a banking crisis and mortality. The results shows that bank crises increase death rates from heart disease and suggest that high-income countries could see up to a 6.4% increase in deaths from heart disease, whilst low-income countries could see a 26% increase in mortality rates.
The report suggests a severe banking crisis could cause between 1,280 and 5,130 additional heart disease deaths - more than 10 times the number of British troops who have died in Iraq.
The elderly are most at risk of suffering stress factors and are most likely to feel threatened when their savings are at risk. The study shows that containing hysteria and preventing panic could potentially thousands of heart disease deaths.
"Whatever one might think of the Bank of England's U-Turn, it probably has spared the United Kingdom from a full-scale bank crisis that would have been borne out not only in economic terms but quite possibly in human lives" says David Stuckler of the University of Cambridge.
Tags: banks, loans, Northern Rock
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