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A NEW STAGE OF THE WORLD FINANCIAL CRISIS. SOVEREIGN DEBT CRISIS

Marius Gust (mariusgust@yahoo.com), Denisa Elena Parpandel and Sorin Grigorescu

Revista Economica, 2012, vol. Supplement, issue 1, 338-347

Abstract: The aim of the present paper is to emphasize the effects of the world financial crisis upon the European Union countries? economies and finances. From its beginning in 2007, the world financial crisis was felt in the countries of the European Union in less than a year and during the next two years, 2008 and 2009, it strongly impacted the economies and finances in these countries. The research goals reside in analyzing the implications of the new crisis wave which was felt again all throughout 2011 and its effects seem to go on over the next period, too. This time, the financial crisis is experienced within states in the form of sovereign debt crisis.

Date: 2012
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