Global Economy News Blog

24th May 2010

Bankruptcy

Nowadays people have a hard time trusting their money to banks, no matter how big and influential these banks are, since there is a very big possibility of banks going bankrupt these days because of the global financial crisis that the world is facing. There are rumors of banks and even countries having big problems with regard to money. Even the United States of America which is known worldwide as the most powerful and richest country is also feeling the crisis.

Top economists in the world are already studying these financial issues and hopefully banks all over the world can recover and regain its losses.

Domino Effect

We are all connected in one way or another, what happens to one country may have some effects big or small to its neighboring countries and the world, especially when problems or crises happen to one of the powerful countries in the world such us the United States of America. The global financial crisis that the whole world is facing right now is said to have begun in the US when they experienced a heavy blow in their economy in 2007.

The housing and financial crisis of the US in 2007 affected some countries also due to the existing globalization.

Global Financial Update

The stocks went down again this week making the global financial market more unstable. Instead of a steady increase the stocks fluctuate and making the big players worried about how to retain the global economic recovery. The world is still in its recover stage and yet there are already a lot of problems arising.

In Germany officials are apprehensive about the situation and tentative condition of the banks and this is actually a scene experienced not only in Germany but in many countries all over the world. This kind of situation or uncertainty has been causing major distress in the market in the US and Europe.

Best Banks

The world banking organization came up with a list of not just the best banks in the world but also the safest. They also have some awards for the best emerging banks in the world and other awards and certification given to rightful awardees. The best emerging banks are those whose performance was good, strong and also well-regulated. Some of these banks came up with TV ads that would let the people know of the goals of the banks.

Some of the awardees are also previous winners, which only goes to show that last year’s contenders are still going strong and did not stop improving, instead tried harder to emerge as the best this year and in the years to come.

Global Village

We live in one big global village, what happens to other countries affect other countries one way or another, like what happened during the gulf war, I was still little then, but some way somehow I also felt the effect of the crisis at that time. Now with the global financial crisis which started somewhere in the middle of 2007 and still affecting all of us now, the world is somewhat crippled.

Some banks closed, businesses went bankrupt, big corporations fell, and people’s lives greatly suffered, and these affected not just third world countries but wealthy nations as well.

Global Financial System

The global financial system is like the umbrella organization of all central banks in the world. It is an international group that includes three very big team players the International Monetary Fund, World Bank and the World Trade Organization. The Global Financial System takes care of everything that is connected with finances, just like the foreign exchange market and they are also closely tied to private members like some commercial banks and pension funds.

It is a very complicated world of banking and finance and something that common people do not usually get involved with or even be concerned about.

Global Economy News Blog

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Bankruptcy

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