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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]
2008 financial crisis; Great Recession (worldwide) 2000s energy crisis (2003–2009) oil price bubble; Subprime mortgage crisis (US) (2007–2010) 2000s United States housing bubble and 2000s United States housing market correction (2003–2011) 2008–2010 automotive industry crisis (US) 2008–2011 Icelandic financial crisis; Post-2008 Irish ...
The European sovereign debt crisis resulted from a combination of complex factors, including the globalization of finance; easy credit conditions during the 2002–2008 period that encouraged high-risk lending and borrowing practices; the 2007–2008 financial crisis; international trade imbalances; real-estate bubbles that have since burst ...
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.
The Eurozone recession has been dated from the first quarter of 2008 to the second quarter of 2009. [2] In the eurozone as a whole, industrial production fell 1.9% in May 2008, the sharpest one-month decline for the region since the Black Wednesday exchange rate crisis in 1992.
21 November – The European Commission suggests "stability bonds" issued jointly by the 17 euro nations would be an effective way to tackle the financial crisis. [88] [89] 25 November – Standard and Poor's downgrades Belgium's long-term sovereign credit rating from AA+ to AA, [90] and 10-year bond yields reach 5.66%. [91]
Government consumption remained more stable, steadily growing by +1.12% in Q1 2020, +0.95% in Q2 2020, +1.48% in Q3 2020, +1.78% in Q4 2020, and +0.66% in Q1 2021. [ 367 ] These fluctuations underscore the pandemic’s deep and uneven impact on the economy, marked by sharp contractions followed by partial recoveries and ongoing volatility.
Effects of the 2000s energy crisis; 2008–2010 automotive industry crisis; Global catastrophic risk; Social situation in the French suburbs; Causes of the Great Recession; Great Recession in Europe; 2010 European sovereign debt crisis timeline; 2008 financial crisis; Russia–Ukraine gas disputes; Fuel protests in the United Kingdom; 2008 ...