How did the Financial Crisis begin?

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Excessive risk-taking by banks such as Lehman Brothers helped to magnify the financial impact globally.

Massive bail-outs of financial institutions and other palliative monetary and fiscal policies were employed to prevent a possible collapse of the world financial system. The crisis was nonetheless followed by a global economic downturn, the Great Recession. The European debt crisis, a crisis in the banking system of the European countries using the euro, followed later.

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