The Global Economic Crisis 1 THE GLOBAL CEONOMIC CRISIS: Causes and Consequences The Global Economic Crisis 2 The world has confronted numerous economic crises in the history which have caused a decline in international commodity trade‚ bankruptcies in almost all sectors of activity. However‚ the September-October 2008 Stock market crash has proven to be far beyond the preceding calamities. The financial giants have been able to manipulate the stock market and resultantly have devastated
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FINANCIAL CRISIS IN GREECE Cuyco‚ Alvin Jason C. FINTMED K31 Enter the economy of euro zone member‚ Greece. Once considered as a financially stable country‚ Greece is now on the edge of having a financial default. With a debt total amounting to an estimated $420 billion‚ experts say that this debt would have been bigger that the country’s economy itself and this debt is predicted to increase as time goes by because Greece spends 12% more than it gets revenues. So what’s exactly went wrong
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Banking in the Global Economic and Financial Crisis" 1. Introduction It is fair to say that central banks around the world have learned the lessons from previous crises and they attempted to change financial regulations to keep pace with the changing global financial system. The policy response triggered by the recent financial crisis has been rapid and it appears that the global policy response has helped to mitigate the effects of the financial crisis. European Central
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The US Financial System: A Crumbling Empire The financial system has been crucial to the role of free enterprise. “Financial markets have come to supply non-financial corporations with mechanisms for managing their risks and for comparing and evaluating diverse investment opportunities in a highly complex global economy” (Cindin‚ 2008). “However‚ despite the lifetimes it took to build our financial institutions‚ bad luck and careless risk management have jeopardized careers and mortgaged these
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The financial crisis and the future of financial regulation Executive summary The outburst of the global financial crisis caused by the subprime crisis in America makes it necessary to adjust the financial regulation systems. The main financial crises in the history of the mankind were all mainly caused by the defects of the financial regulation in the world. Thus it can be seen that it is very necessary and important to explore the effective means to improve the effectiveness of the international
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Spanish financial crisis The 2008–2013 Spanish financial crisis began as part of the world Late-2000s financial crisis and continued as part of the European sovereign debt crisis‚ which has affected primarily the southern European states and Ireland. In Spain‚ the crisis was generated by long-term loans (commonly issued for 40 years)‚ the building market crash‚ which included the bankruptcy of major companies‚ and a particularly severe increase in unemployment‚ which rose to 24.4% by March 2012
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its political and economic situation affect the prices of oil and the U.S stock market as well. The latest situation in Egypt and other Middle East countries where anti-government protestors demanded that longtime dictators resign their positions have encouraged Libya to do the same; however‚ taking Libyan leader Muammar al-Qaddafi is taking more than expected. Libya is member of OPEC (Organization of Petroleum Exporting Countries) which is extremely concerned with Libya crisis since it holds the
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Italy is facing strong imbalances on a macroeconomic point of view‚ and that requires special policy actions in order to restore an economic balance in this country‚ currently struggling in an economic crisis. The main problems are the huge public debt held and the lack of external competitiveness. Both those problem are originally caused by the extremely slow economic productivity growth of the country. Given the fact that the Italian economy has a relatively important role in the European economy
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The most recent financial crisis in 2007-2009 was the worst recession since the 1930’s was quite evident as it affected the entire economy on a global scale; from large countries to small ones. The starting point and reason behind a financial crisis is varied‚ they appear in different shapes and sizes which could have originated externally or domestically and emerged from the public or private sector. Consequently with time‚ they take different forms and spread rapidly across boarders. Which is why
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