During the past few months we have witnessed the collapse of some of the most powerful banks in the world, a dramatic downturn in stock markets, the nationalization of US and European banking institutions and the pumping in of billions of euros by central banks. The world is facing one of the most serious financial…
Tag: Financial crisis
Who’s taking credit for the crisis? Explaining the context of recession
Having been called the greatest economic crisis since the Great Depression of the 1930s, the credit crunch dominates newspapers and has involved state interventions of unprecedented magnitudes. Initially the affected parties were to be found among the large banks and on the trading floor – not the kind of people that we young and idealist…