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Global economic crisis:
Since 2007, nations around the world experienced a series of major economic and financial problems. The events began with the financial crisis of 2007–2008, considered bymany economists to be the worst financial crisis since the Great Depression of the 1930s. It resulted in the threat of total collapse of large financial institutions, the bailout of banks by nationalgovernments, and downturns in stock markets around the world. In many areas, the housing market also suffered, resulting in evictions, foreclosures and prolonged unemployment. The crisis played asignificant role in the failure of key businesses, declines in consumer wealth estimated in trillions of US dollars, and a downturn in economic activity leading to the 2008–2012 global recession andcontributing to the European sovereign-debt crisis.
Causes:
Many factors directly and indirectly caused the ongoing 2007–2012 global financial crisis (which started with the US subprime mortgage crisis),with experts placing different weights upon particular causes.
-The crisis resulted from a combination of complex factors, including easy credit conditions during the 2002–2008 period that encouragedhigh-risk lending and borrowing practices; international trade imbalances; real-estate bubbles that have since burst; fiscal policy choices related to government revenues and expenses; and approachesused by nations to bail out troubled banking industries and private bondholders, assuming private debt burdens or socializing losses. -One narrative describing the causes of thecrisis begins with the significant increase in savings available for investment during the 2000–2007 periods when the global pool of fixed-income securities increased from approximately $36 trillion in2000 to $70 trillion by 2007. This "Giant Pool of Money" increased as savings from high-growth developing nations entered global capital markets.
Countries with economic crisis:
* Belgium
*...