Economic Crisis Explained

The financial crisis of 2007-2008, also known as the global financial crisis and the 2008 financial crisis, was a severe worldwide economic crisis considered by many economists to have been the most serious financial crisis since the Great Depression of the 1930s, to which it is often compared. It began in 2007 with a crisis in the subprime mortgage market in the United States, and developed into a full-blown international banking crisis with the collapse of the investment bank Lehman.

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Greece became the center of Europe’s debt crisis after Wall Street imploded in 2008. With global financial markets still reeling, Greece announced in October 2009 that it had been understating.

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The economic crisis is the result of a man-made mistakes in the US and the natural rise of economies in the east. Fuel prices are never going to return to the levels experienced in the past, and the world must learn to adjust to this new reality. At the same time, the credit crisis – which was created in the US – can only be solved by the US.

What happened during the financial crisis? Referred to as the worst economic disaster since the Great Depression, the 2008 financial crisis devastated the world economy. This resulted in what’s known as the Great Recession, which led to falling housing prices and sharp increases in unemployment. The associated repercussions were enormous, and are still influencing financial systems today.

Why is the crisis a big deal? As explained earlier, NBFCs are playing an increasingly important part in the economy. Their share of credit has increased because they were lending in sectors where.

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Venezuela’s crisis explained from the beginning. A look at the country’s ongoing protests against the government of President Maduro and the current political situation.

Here are some questions about the latest ruling answered (with huge thanks to Dean Knight, professor of law at Victoria.

A financial crisis is a situation where the value of assets drop rapidly and is often triggered by a panic or a run on banks.

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