The Economic Crisis from 2006 up to 2010

Abstract

I have chosen this topic because it reflects the real situation not only of my nation but also the situation of the entire world economy. I think it is important for everybody to realise how wide the problem is and to try to improve from those mistakes. This economic crisis has been a phenomenon inducted by the villainy of a couple of investors who have gained a lot of money at the expense of thousands of families and I am convinced that everybody should be conscious of that and must condemn it.

I divided my paper into: Chapter 1: "Domino Like Behaviour of the Crises" Chapter 2: "Consequences of the Crisis in Europe"

Therefore the aim of this paper is to create a quick guide to the main aspects of the economic crises from 2008 and to 2010. It began with a quick review of the sub-prime crisis and analyses the effects over the credit market. In the second part I will explain the consequences of the crises in Europe and also in Italy together with all the measures brought by each single country. After the communication of Fed of the Lehman Brother bankruptcy the entire economic system has began to fall down. From the U.S.A to Japan each single investor has passed hours of terrors waiting for the BCE and IMF measures in order to avoid the crash of the credit system. The bankruptcy of Greece and the critic situation of Spain Portugal and Ireland has brought lots of European investors to come back to the golden standard.

During the last three months gold’s price has reached high peaks since 1990. Consequently Fed has re-opened his vault in New York (which is the biggest gold deposit in the world). The rebirth of the economy is waited for the last months of 2011 when FED and BCE economic measures have been implemented and might show their effects.