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European Debt Crisis
The euro area crisis, often also referred to as the eurozone crisis, European debt crisis, or European sovereign debt crisis, was a multi-year debt crisis and financial crisis in the European Union (EU) from 2009 until, in Greece, 2018. The eurozone Member state of the European Union, member states of Greece, Portugal, Republic of Ireland, Ireland, and Cyprus were unable to repay or refinance their government debt or to bailout fragile banks under their national supervision and needed assistance from other eurozone countries, the European Central Bank (ECB), and the International Monetary Fund (IMF). The crisis included the Greek government-debt crisis, the 2008–2014 Spanish financial crisis, the 2010–2014 Portuguese financial crisis, the post-2008 Irish banking crisis and the post-2008 Irish economic downturn, as well as the 2012–2013 Cypriot financial crisis. The crisis contributed to changes in leadership in Greece, Ireland, France, Italy, Portugal, Spain, Slovenia, Sl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Post-2008 Irish Banking Crisis
The post-2008 Irish banking crisis was when a number of Irish financial institutions faced almost imminent collapse due to insolvency during the Great Recession. In response, the Irish government instigated a €64 billion bank bailout. This then led to a number of unexpected revelations about the business affairs of some banks and business people. Ultimately, added onto the deepening recession in the country, the banks' bailout was the primary reason for the Irish government requiring IMF assistance and a total restructuring of the government occurred as result. Background During the second half of the 1995–2007 'Celtic Tiger' period of growth, the international bond borrowings of the six main Irish banks—Bank of Ireland, Allied Irish Banks, Anglo Irish Bank, Irish Life & Permanent, Irish Nationwide Building Society and Educational Building Society—grew from less than €16 billion in 2003 to approximately €100 billion (well over half of Ireland's GDP) by 2007. This ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Great Recession
The Great Recession was a period of market decline in economies around the world that occurred from late 2007 to mid-2009.“US Business Cycle Expansions and Contractions” United States NBER, or National Bureau of Economic Research, updated March 14, 2023. This government agency dates the Great Recession as starting in December 2007 and bottoming-out in June 2009. The scale and timing of the recession varied from country to country (see map). At the time, the International Monetary Fund (IMF) concluded that it was the most severe economic and financial meltdown since the Great Depression. The causes of the Great Recession include a combination of vulnerabilities that developed in the financial system ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2008 Financial Crisis
The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners and financial institutions that led to the 2000s United States housing bubble, exacerbated by predatory lending for subprime mortgages and deficiencies in regulation. Cash out refinancings had fueled an increase in consumption that could no longer be sustained when home prices declined. The first phase of the crisis was the subprime mortgage crisis, which began in early 2007, as mortgage-backed securities (MBS) tied to U.S. real estate, and a vast web of Derivative (finance), derivatives linked to those MBS, collapsed in value. A liquidity crisis spread to global institutions by mid-2007 and climaxed with the bankruptcy of Lehman Brothers in September 2008, which triggered a stock market crash and bank runs in several countries. The crisis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of The European Union
The economy of the European Union is the joint economy of the member states of the European Union (EU). It is the second largest economy in the world in nominal terms, after the United States, and the third largest at purchasing power parity (PPP), after China and the US. The European Union's GDP is estimated to be $19.99 trillion (nominal) in 2025 or $29.18 trillion (PPP), representing around one-sixth of the global economy. Germany, France and Italy are the three largest economies in the European Union, accounting for approximately 52.6% of the EU's total GDP. Germany contributes 24.3%, while France accounts for 16.2% and Italy for 12.1%. In 2023, the social welfare expenditure of the European Union (EU) as a whole was 26.8% of its GDP. The EU has total banking assets of more than $38 trillion, France accounts for 26% ($10 trillion) of Europe's total banking assets followed by Germany with 18% ($7 trillion) and Italy with 8% ($3 trillion). Global assets under managemen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Causes Of The Euro Area Crisis
The European debt crisis, often also referred to as the eurozone crisis or the European sovereign debt crisis, was a multi-year debt crisis that took place in the European Union (EU) from 2009 until the mid to late 2010s that made it difficult or impossible for some countries in the euro area to repay or refinance their government debt without the assistance of third parties. The European sovereign debt crisis resulted from the structural problem of the eurozone and a combination of complex factors, including the Financialization, globalisation of finance; easy credit conditions during the 2002–2008 period that encouraged high-risk lending and borrowing practices; the 2008 financial crisis; international trade imbalances; Real estate bubble, real-estate bubbles that have since burst; the Great Recession; fiscal policy choices related to government revenues and expenses; and approaches used by nations to bail out troubled banking industries and private bondholders, assuming ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Political Economy (journal)
''New Political Economy'' is a bimonthly peer-reviewed academic journal covering research on international political economy. It was established in 1996 and is published by Routledge. The editor-in-chief is Colin Hay (University of Sheffield and Sciences Po Paris). It is one of the leading journals in International Political Economy, along with ''Review of International Political Economy''. Abstracting and indexing According to the ''Journal Citation Reports'', the journal has a 2018 impact factor of 3.085, ranking it 46th out of 363 journals in the category "Economics", 20th out of 176 journals in the category "Political Science" and 8th out of 91 journals in the category "International Relations". The journal's 2020 impact factor is 4.681. See also *List of political science journals *List of international relations journals *List of economics journals The following is a list of scholarly journals in economics containing most of the prominent academic journals in economics. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CBS News
CBS News is the news division of the American television and radio broadcaster CBS. It is headquartered in New York City. CBS News television programs include ''CBS Evening News'', ''CBS Mornings'', news magazine programs ''CBS News Sunday Morning'', ''60 Minutes'', and ''48 Hours (TV program), 48 Hours'', and Sunday morning talk show, Sunday morning political affairs program ''Face the Nation''. CBS News Radio produces hourly newscasts for hundreds of radio stations, and also oversees CBS News podcasts like ''Major Garrett, The Takeout Podcast''. CBS News also operates CBS News 24/7, a 24-hour digital news network. Up until April 2021, the president and senior executive producer of CBS News was Susan Zirinsky, who assumed the role on March 1, 2019. Zirinsky, the first female president of the network's news division, was announced as the choice to replace David Rhodes (CBS News President), David Rhodes on January 6, 2019. The announcement came amid news that Rhodes would step do ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income Inequality
In economics, income distribution covers how a country's total GDP is distributed amongst its population. Economic theory and economic policy have long seen income and its distribution as a central concern. Unequal distribution of income causes economic inequality which is a concern in almost all countries around the world. About Classical economists such as Adam Smith (1723–1790), Thomas Malthus (1766–1834), and David Ricardo (1772–1823) concentrated their attention on factor income-distribution, that is, the distribution of income between the primary factors of production (land, labour and capital). Modern economists have also addressed issues of income distribution, but have focused more on the distribution of income across individuals and households. Important theoretical and policy concerns include the balance between income inequality and economic growth, and their often inverse relationship. The Lorenz curve can represent the distribution of income within ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Poverty
Poverty is a state or condition in which an individual lacks the financial resources and essentials for a basic standard of living. Poverty can have diverse Biophysical environment, environmental, legal, social, economic, and political causes and effects. When evaluating poverty in statistics or economics there are two main measures: ''absolute poverty'' which compares income against the amount needed to meet basic needs, basic personal needs, such as food, clothing, and Shelter (building), shelter; secondly, ''relative poverty'' measures when a person cannot meet a minimum level of living standards, compared to others in the same time and place. The definition of ''relative poverty'' varies from one country to another, or from one society to another. Statistically, , most of the world's population live in poverty: in Purchasing Power Parity, PPP dollars, 85% of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unemployment
Unemployment, according to the OECD (Organisation for Economic Co-operation and Development), is the proportion of people above a specified age (usually 15) not being in paid employment or self-employment but currently available for work during the reference period. Unemployment is measured by the unemployment rate, which is the number of people who are unemployed as a percentage of the labour force (the total number of people employed added to those unemployed). Unemployment can have many sources, such as the following: * the status of the economy, which can be influenced by a recession * competition caused by globalization and international trade * new technologies and inventions * policies of the government * regulation and market * war, civil disorder, and natural disasters Unemployment and the status of the economy can be influenced by a country through, for example, fiscal policy. Furthermore, the monetary authority of a country, such as the central bank, can in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Austerity
In economic policy, austerity is a set of Political economy, political-economic policies that aim to reduce government budget deficits through Government spending, spending cuts, tax increases, or a combination of both. There are three primary types of austerity measures: higher taxes to fund spending, raising taxes while cutting spending, and lower taxes and lower government spending. Austerity measures are often used by governments that find it difficult to Government debt, borrow or meet their existing obligations to pay back loans. The measures are meant to reduce the budget deficit by bringing government revenues closer to expenditures. Proponents of these measures state that this reduces the amount of borrowing required and may also demonstrate a government's fiscal discipline to creditors and credit rating agencies and make borrowing easier and cheaper as a result. In most macroeconomic models, austerity policies which reduce government spending lead to increased unem ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
