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Wednesday, April 7, 2010 as of 11:14 AM ET

Economic Crisis

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The 2007–2012 global financial crisis, also known as the Global Financial Crisis (GFC), is considered by many economists to be the worst financial crisis since the Great Depression of the 1930s.

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Related Topics

  1. Greek Crisis
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Defaults On Brazil Auto Loans Reach Record High In April

Defaults on auto loans in Brazil reached a record high in April as consumers struggled to pay down loans from previous years, the central bank reported Friday.

The central bank said that loans past due for more than 90 days on auto-financing contracts rose to 5.9% in April from 5.7% in March.Bank officials said the increase in the delinquency rate was part of a trend that began with eased credit conditions and tax incentives from past government economic stimulus efforts."The high default rate on auto-purchase loans reflects the credit harvest of 2010," noted Central Bank Economics Department Coordinator Tulio Maciel.In response to the repercussions of a global financial crisis in 2008 and 2009, Brazil's government cut the country's IPI industrial products tax by between 50% and 100% on selected models of vehicles, encouraging a rush of consumers to make new auto purchase loans. The central bank at the time had also cut the country's benchmark Selic interest rate to an all-time low of 8...

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  5. Five Essential Facts on the Greek Currency Crisis

    The latest wrinkle in the Greek financial crisis is a rush by its citizens to withdraw their savings from banks. This is both a symptom of the fear that Greece might...

  6. EU to Greece: Stick With Us

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  8. Eurozone's Economic Slump Deepens

    The shadows being cast over the global economy darkened this month as the euro zone's private sector declined further and China's once-booming factories faltered, bu...

  9. Australian Fund Managers Feel Strain From Europe's Debt Crisis

    Australian fund managers may be on the other side of the world from the drama unfolding in Europe, but local wealth managers are nonetheless feeling the impact from ...

  10. New Zealand Budget Surplus Goal Relies On Increased Cigarette Tax

    New Zealand's government is aiming for a budget surplus by relying on increased excise duty on cigarettes and closing a tax loophole related to vacation homes and lu...

  11. New Zealand Treasury Expects RBNZ Rate Hikes In Early 2013

    The New Zealand Treasury is expecting the Reserve Bank of New Zealand to begin raising the Official Cash Rate from its current low 2.5% in early 2013, it said Thursd...

  12. New Zealand Government Forecasts A Budget Surplus Of NZ$197 Million In 2014-15

    New Zealand's government unveiled a budget Thursday aimed at keeping it on course to reach a NZ$197 million (US$148 million) surplus in the year to June 2015."We are...

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    Asia's richest man laid out his succession plans Friday, putting his older son at the helm of his business empire and promising his younger son funding to embark on ...

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