Economic Crisis - Implications and Perspective on the European Economy

Militaru Mãdãlina ()
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Militaru Mãdãlina: „Spiru Haret” University

Ovidius University Annals, Economic Sciences Series, 2011, vol. XI, issue 1, 1357-1362

Abstract: The current global economic crisis involves shocks felt far and wide in Europe, without precedent in post-war economic history. This crisis was preceded by long period of rapid growth, availability of liquidity.The acute liquidity shortage pushed system to collapse. The financial crisis has had a pervasive impact on the real economy of the EU, and this in turn led to adverse feedback effects on loan books, asset valuations and credit supply. Not only actual economic activity has been affected by the crisis, also potential output is likely to have been affected, and this has major implications for the longer-term growth outlook and the fiscal situation.

Keywords: liquidity shortage; systemic collapse; structural unemployment; global crisis (search for similar items in EconPapers)
JEL-codes: F02 (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:11:y:2011:i:1:p:1357-1362

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