The Global Financial... Crisis???

Lidia Kocurova

Montenegrin Journal of Economics, 2009, vol. 5, issue 9, 117-122

Abstract: The main reason of crisis in the mechanism of abnormal use of credit money and the stock market at the international level in interests of separate groups. The commercialization of bank activity and an exit of banks on the stock market - the second precondition of global financial crisis. Bretton Woods in 1944 made dollar world currency - the third precondition of crisis. Interpenetration of business of the various countries, offshore business and offshore havens made global economy absolutely opaque and accelerated financial crisis. How to lead economy to developing countries? Not to copy the western technologies, to leave recession through domestic markets of the state formations. The currency of each country will represent the economic potential. Through state formation the society will come to the developed market.

Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:mje:mjejnl:v:5:y:2009:i:9:p:117-122

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