The term economic crisis is applied broadly to a variety of situations in which some financial assets suddenly lose a large part of their nominal value. In the 19th and early 20th centuries, many financial crises were associated with banking panics, and many recessions coincided with these panics.
Economy of Greece Recorded a Contraction of 6.4% in 2012
According to preliminary data, the GDP was affected by the fall in consumption and a negative trade balance. The Greek economy shrank 6.4% in 2012, the fifth year of recession that supports the Mediterranean country, according to...
- Posted 4 years ago