| Author (Corporate) | European Commission |
|---|---|
| Publisher | EC |
| Publication Date | 28/10/2008 |
| Content Type | News |
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The crisis that started in the US in 2007 has sent shock waves around the globe. Former giants of the financial world have found themselves suddenly facing bankruptcy. Inevitably, the crisis is also having an effect on households and businesses - economic growth has slowed sharply and in some EU countries unemployment has begun to increase for the first time in several years. In the EU, the turmoil has prompted action on many levels – by national governments, the European Central Bank and the European Commission. All have been working closely together to protect savings, maintain a flow of affordable credit for businesses and households and put in place a better governance system for the future. |
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| Source Link | http://ec.europa.eu/commission_barroso/president/focus/credit_crunch/index_en.htm |
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| Subject Categories | Business and Industry, Economic and Financial Affairs |
| Countries / Regions | Europe |
