The Influence Of International Financial Crisis

- May 16, 2018-

In Europe, however, the changes are profound and enduring.It was the first large-scale economic crisis since the introduction of the euro in the late 1990s, which almost led to the collapse of the European monetary sector.Italy and Spain almost lost their sovereign debt markets in 2011-12, and Greece took that step in 2015.After much hesitation, the euro zone in 2012 finally established the European stability mechanism to cope with the crisis, it is a large public financial aid funds, and launched the European banking federation complex project, the design will be banking supervision from the national level to rise to the euro zone level.This deeper integration is also a key factor in the UK government's decision to submit its EU membership to a referendum. Brexit is on the way, and no matter what happens, the EU will never be the same again.

From a global perspective, the crisis appears to have slowed the pace of cross-border trade and economic globalization.But recent data suggest the effect may be temporary.If so, the world will largely survive the crisis of 2008.However, it is too early to say.

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