Causes and Consequences of the Current Economic Crisis

Chindriº-Vãsioiu Oana () and Madalina Tocan
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Chindriº-Vãsioiu Oana: Ecological University of Bucharest, Faculty of Economic Science
Authors registered in the RePEc Author Service: Oana Chindris-Vasioiu

Ovidius University Annals, Economic Sciences Series, 2012, vol. XII, issue 2, 15-20

Abstract: Current economic and financial crisis is considered to be the deepest crisis to date. Some experts believe that the current crisis began following publications in the press about U.S. banks instability, which led to loss of credibility banks, and others believe that bankers are responsible for the crisis because they had cash reserves of state interest. These are just opinions, but in fact the causes are more complex as both macroeconomic and microeconomic. Economic effects were felt worldwide, but different from state to state depending on the regulations and its level of development. Crisis governments have taken steps to protect the national economy both individually and collectively (at EU level).

Keywords: financial crisis; economic crisis; leverage; bubble; gross domestic product. (search for similar items in EconPapers)
JEL-codes: F62 F65 F68 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xii:y:2012:i:2:p:15-20

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