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The 2008 financial crisis, also known as the global financial crisis, was a major worldwide economic crisis, centered in the United States, which triggered the Great Recession of late 2007 to mid-2009, the most severe downturn since the Wall Street crash of 1929 and Great Depression.
On 14 September 2011, in a move to further ease Ireland's difficult financial situation, the European Commission announced it would cut the interest rate on its €22.5 billion loan coming from the European Financial Stability Mechanism, down to 2.59 per cent—which is the interest rate the EU itself pays to borrow from financial markets. [130]
Ukraine was hit heavy by the economic crisis of 2008, analysts say the plights of Ukraine are slumping steel prices, local banking problems and the cutting of Russian gas supply in January 2009. [131] Key industries such as metallurgy and machine building are laying off workers, and real wages have started to fall for the first time in a decade ...
This article gives the timeline of the Great Recession, which hit many developed economies in the wake of the 2007–2008 financial crisis. Note: The date indicated is that of the official announcement by the department or the public agency in charge of the measurement of the economic activity of the country. Thus, because of possible lags in ...
This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Friday, March 17, 2023
Swiss bank UBS is set to shell out more than $1.4 billion to settle accusations of “historic” fraud relating to its role in the 2008 financial crisis. The European banking giant has agreed to ...
Public debt $ and %GDP (2010) for selected European countries Government debt of Eurozone, Germany and crisis countries compared to Eurozone GDP. The European debt crisis, often also referred to as the eurozone crisis or the European sovereign debt crisis, was a multi-year debt crisis that took place in the European Union (EU) from 2009 until the mid to late 2010s that made it difficult or ...
Savanta’s research shows among Europe’s 18-34-year-olds, 63% are spending less on alcohol purchases in supermarkets, while 67% are drinking less when they go to restaurants and bars.