The financial crisis of 2007–2009 has been called the worst financial crisis since the one related to the Great Depression by leading economists, and it contributed to the failure of key businesses, declines in consumer wealth estimated in the trillions of U.S. dollars, substantial financial commitments incurred by governments, and a significant decline in economic activity. Many causes have been proposed, with varying weight assigned by experts. Both market-based and regulatory solutions have been implemented or are under consideration, while significant risks remain for the world economy.
About all this situations of the economic crisis that has been taking place in this few years the most serious problem, is that Europe and the USA face not just a financial crisis but a major economic crisis.
New official statistics appear every day telling us that consumer demand is weakening, order books are slack and unemployment is rising.
It is the coincidence of continued global financial crisis and recession in the real economy which makes the current situation so dangerous; indeed, it is precisely this combination - together with wrong headed government policies - which can turn a recession into a depression.
