Finantskriis

Finantskriis, also known as the Financial Crisis, refers to a severe worldwide economic crisis that began in late 2007 and lasted until approximately mid-2009. The crisis was triggered by the collapse of the U.S. housing market, which led to a significant decline in home prices and a subsequent decline in the value of mortgage-backed securities. This decline in asset values led to a loss of confidence in the financial system, resulting in a global financial crisis.

The crisis was characterized by a series of interconnected events, including the failure of several major financial institutions, a sharp decline in stock markets, and a significant increase in unemployment. The crisis had severe economic consequences, including a global recession, a significant decline in GDP, and a sharp increase in poverty.

The crisis was caused by a combination of factors, including excessive risk-taking by financial institutions, a lack of regulation and oversight, and a lack of transparency in the financial system. In response to the crisis, governments and central banks around the world implemented a series of measures to stabilize the financial system and stimulate economic growth. These measures included bailouts of financial institutions, quantitative easing, and fiscal stimulus packages.

The Financial Crisis had long-lasting effects on the global economy, including a significant increase in inequality, a decline in consumer confidence, and a shift in global economic power. The crisis also led to a series of reforms in the financial system, including the implementation of the Dodd-Frank Act in the United States and the Basel III regulations in the European Union. The Financial Crisis serves as a reminder of the importance of regulation, oversight, and transparency in the financial system.