Table of Contents:

• A Visual Guide to the global financial crisis
• A brief Summary of the Global Financial Crisis
• Articles & Links to more resources on the Global crisis

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Global Financial Crisis Summary:

1. After 2000/01, the global economy had followed the US lead in using cheap credit to drive economic growth and the capital markets
2. Globalization had created a global economy which was increasingly interlinked and greatly influenced by the US economy
3. When the US mortgage crisis resulted in a wider Banking crisis, this rapidly spread throughout Europe and the rest of the world
4. As a result, the US financial crisis has caused a Global Economic Crisis with increasing unemployment and bankruptcies
5. The crisis has even resulted in the entire collapse of Iceland’s economic and banking system
6. Governments and central banks intervened by injecting money into the financial system to bail out companies and restore confidence
7. The effects of the crisis on some of the developing countries are even greater as many of them rely on charitable aid from the West
8. The slowdown in world trade and consumption has led to a global recession which is likely to last a few years
9. The Global Financial Crisis continues to cause bankruptcies and financial hardships as world leaders try to implement stimulus plans