It seems incredible, but three years ago that we live in a financial crisis and still is far from clear the much-heralded recovery. Three years ago, specifically August 9, 2007, BNP Paribas decided to stay three investment funds because they could not determine the value of mortgage assets of these funds. That was the starting signal to all that came later.
Such action interbank sparked panic, that is, banks stopped lending to each other, and therefore the Euribor and Eonia soared, which meant that they had involved the central banks to inject liquidity.
Many people think that the crisis began in autumn 2008, when the U.S. left to break the bank Lehman Brothers. That would be the climax of the financial crisis, when there was the most critical moment, but we’d been years and peak with the central banks actively intervening banking system.
Today we can almost say that the financial crisis is coming to an end. Perhaps some banks need to recapitalize, particularly in Europe, but the problem has led clearly to the real economy and finances of the States. Although both the U.S. and in Europe has emerged from recession, many believe that there will be a relapse.
In Spain the way the crisis was more severe than in most neighboring countries, except maybe Greece. Our level of private debt was excessive and had a construction too big. The international financial crisis coupled with our own crisis of excess, leading to an incredibly high level of unemployment. And now we still unemployed, despite the fact that we turn to grow, and the State also has a very large fiscal deficit that is trying hard to correct with adjustment plans. That is, we are still far in Spain said: “The crisis is over,” although it is grown, generate employment and there is more affiliated to the Social Security is good news (although we are in tourist season and that’s what normal).
Possibility Related Posts:
Posted in Financial Markets, Financial Tips and Info | 
Tags: finance, financial crisis, Financial Tips and Info