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This is the most recent of the crises on our list, and no one

is yet certain about when, or how, it is going to end. Markets have grown increasingly concerned about the ability of nations, particularly Greece, Ireland, Spain, Portugal, and Italy,to pay their debts, and the exposure of international banks to these potentially toxic debts has played a large part in the enormous market falls of recent days — some of the worst on record.

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the shock collapse of the Lehman Brothers Bank, which

held assets worth $600 billion, became the symbolic start

of the most dramatic financial crisis since the Great

Depression. The causes have been attributed variously

to the likes of a deregulated financial sector, poor public

monetary policies and an international economy that was

ultimately based upon a house of sand, with

unsustainable levels of debt in both public and

private sectors.

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The prices increased and the standard of living fell down drastically.

A devaluation closely of 300 % of the ruble in the space of three weeks between August and September, 1998

The paralyzation of the bank system

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Enormous national debt of Russia instigated by the Asian

crisis of 1997, which it began with the devaluation of the

Thai currency.

The fall of the oil price had a strong impact in the country,

since Russia was depending on this product

Narrow relation of the Russian banks with the petroleum industries

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It reflects one of the principal reasons of the financial bankruptcy of Russia, it was one of the most difficult stages for the most extensive country of the world.

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It was a period of financial difficulty that one empowered

of Asia in July, 1997 and increased the fear of an economic

world disaster for financial contagion.

It began on July 2, 1997 with the devaluation of the Thai

currency. For effect it dominated, numerous devaluations

happened to him in Malaysia, Indonesia and The

Philippines, which reverberated also in Taiwan, Hong

Kong and South Korea.

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The crisis of the Asian coins was the direct consequence

of a combination of factors. The first trigger factor of this

crisis was the gigantic deficit of the current account,

which in 1996 reached 8,2 % of the PNB of Thailand.

This deficit exercised forts press to her on valued

currency of this country. The second factor was

the existing relation between a weak yen and the

fort baht (Thai currency) that increased the imports of
Japanese goods which item represents almost a third

of the total imports of Thailand. This way, so, the

strength of the baht is the reason of the increase

of his trade deficit.

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The Overproduction

The monetary disorder

The Unequal

Relative Economic Recovery

The difficult years of the Postwar period

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There took place a bankruptcy of the stock market of New York, which it provoked a long period of deflation. The crisis moved rapidly to the set of the American, European economy and of other areas of the world. One of his more immediate consequences was the collapse of the system of international settlements

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It began on August 23, 1973, immediately after the decision of the Organization of Arabic Exporting Countries of Oil not to export any more oil to the countries that had supported Israel during the war of the Yom Kippur. This measure was including The United States and his allies of Europa Occidental.

The increase of the price joined the great dependence that had the world industrialized of the oil, provoked a strong inflationary effect and a reduction of the economic activity of the affected countries.

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The majority of the countries established programs of help and suffered some type of political agitation, stimulating them towards extremismos of left side or right. In some countries, the desperate citizens felt attracted by nationalistic demagogues (as Adolf Hitler), preparing the scene the Second World war in 1939.

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The international trade met deeply affected

Cities of the whole world turned out to be seriously affected, specially those who were depending on the heavy industry

The agriculture and the rural zones suffered when the prices fell down between 40 and 60 per cent

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The Great Depression originated in the United States.

It was a deep economic world recession that it began at the beginning of 1929 and ended in different moments of the 30s

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The currency suffered an increase of his nominal value

The ruin of the small savers

Poverty and the unemployment

Social problems

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The main reason of this crisis is that

Germany had to pay to him the victors of the Great War, this way that the payments were done issuing a great quantity of

money

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It is a monetary disorder provoked by the rapid and uncontrolled raise of the prices.

The currency of the country that he suffers loses his value.

The circulating money supply is enormous

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Later, Nelson W. Aldrich make

the System of Federal

Reservation to propose solutions

to the future crises.

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He invested several sums of money with other bankers to remedy this crisis

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National and local banks and business go to bankruptcy.

It was a financial crisis that took place in

the United States when the Stock

exchange of New York fell down

near 50 % of his beak the previous

year.