The following

economics Economics () is a behavioral science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interac ...

-related events occurred in

2008 2008 was designated as: *International Year of Languages *International Year of Planet Earth *International Year of the Potato *International Year of Sanitation The Great Recession, a worldwide recession which began in 2007, continued throu ...

Events

October

October 5 Events Pre-1600 * 610 – Heraclius arrives at Constantinople, kills Byzantine Emperor Phocas, and becomes emperor. * 816 – King Louis the Pious is crowned emperor of the Holy Roman Empire by the Pope. * 869 – The Fourth Co ...

** The German government moves to back troubled Hypo Real Estate with a 50 billion

euro The euro (currency symbol, symbol: euro sign, €; ISO 4217, currency code: EUR) is the official currency of 20 of the Member state of the European Union, member states of the European Union. This group of states is officially known as the ...

rescue plan
(MarketWatch)
** German Chancellor

Angela Merkel Angela Dorothea Merkel (; ; born 17 July 1954) is a German retired politician who served as Chancellor of Germany from 2005 to 2021. She is the only woman to have held the office. She was Leader of the Opposition from 2002 to 2005 and Leade ...

announces that

Germany Germany, officially the Federal Republic of Germany, is a country in Central Europe. It lies between the Baltic Sea and the North Sea to the north and the Alps to the south. Its sixteen States of Germany, constituent states have a total popu ...

will explicitly guarantee the deposits in banks held by its citizens
(MarketWatch)
* October 9 **

Iceland Iceland is a Nordic countries, Nordic island country between the Atlantic Ocean, North Atlantic and Arctic Oceans, on the Mid-Atlantic Ridge between North America and Europe. It is culturally and politically linked with Europe and is the regi ...

nationalises

Kaupthing Bank Kaupthing Bank (, ) was a major international Icelandic bank, headquartered in Reykjavík, Iceland. It was taken over by the Icelandic government during the 2008–2011 Icelandic financial crisis and the domestic Icelandic-based operations were ...

. ** IMF: World on brink of recession; prepares special loan program. ** Markets down across the world; Dow Jones falls below 9,000. *

October 10 Events Pre-1600 * 19 – The Roman general Germanicus dies near Antioch. He was convinced that the mysterious illness that ended in his death was a result of poisoning by the Syrian governor Gnaeus Calpurnius Piso, whom he had ordered to ...

** Hampshire councils have £3 million invested in Icelandic banks. **

Dow Jones Dow Jones is a combination of the names of business partners Charles Dow and Edward Jones. Dow Jones & Company Dow, Jones and Charles Bergstresser founded Dow Jones & Company in 1882. That company eventually became a subsidiary of News Corp, an ...

recovers hundreds of points, before losing them in minutes. ** Global markets plunge. **

WTO The World Trade Organization (WTO) is an intergovernmental organization headquartered in Geneva, Switzerland that regulates and facilitates international trade. Governments use the organization to establish, revise, and enforce the rules that g ...

calls meeting on trade finance and economic crisis. *

October 11 Events Pre-1600 *1138 – A massive earthquake strikes Aleppo; it is one of the most destructive earthquakes ever. * 1142 – A peace treaty ends the Jin–Song wars. *1311 – The peerage and clergy restrict the authority of En ...

** G7 says "all available tools" will be used to solve crisis. ** October 11:

and

United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Northwestern Europe, off the coast of European mainland, the continental mainland. It comprises England, Scotlan ...

in diplomatic dispute over

financial crisis A financial crisis is any of a broad variety of situations in which some financial assets suddenly lose a large part of their nominal value. In the 19th and early 20th centuries, many financial crises were associated with Bank run#Systemic banki ...

. ** October 11:

George W. Bush George Walker Bush (born July 6, 1946) is an American politician and businessman who was the 43rd president of the United States from 2001 to 2009. A member of the Bush family and the Republican Party (United States), Republican Party, he i ...

attempts to reassure Americans in radio address.

References

{{DEFAULTSORT:2008 In Economics