international financial crisis: origin and mutations

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INTERNATIONAL FINANCIAL CRISIS: ORIGIN AND MUTATIONS Prof. Dr. Joaquín López Pascual www.joaquinlopezpascu al.com

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Page 1: International Financial Crisis:  Origin and Mutations

INTERNATIONAL FINANCIAL CRISIS: ORIGIN AND MUTATIONS

Prof. Dr. Joaquín López Pascual

www.joaquinlopezpascual.com

Page 2: International Financial Crisis:  Origin and Mutations

INTERNATIONAL FINANCIAL CRISIS: ORIGIN AND MUTATIONS

www.joaquinlopezpascual.com

Page 3: International Financial Crisis:  Origin and Mutations

INTERNATIONAL FINANCIAL CRISIS

ORIGIN AND MUTATIONS

Page 4: International Financial Crisis:  Origin and Mutations

INTERNATIONAL FINANCIAL CRISIS: ORIGIN AND MUTATIONS

The current economic crisis began in 2007

The Crisis is : Deep, extensive. In the majority irreversible. International, global of great magnitude

Page 5: International Financial Crisis:  Origin and Mutations

INTERNATIONAL FINANCIAL CRISIS: ORIGIN AND MUTATIONS

Financial Times July 2008

Financial crisis:

The final implications and real reach are still a mystery(we cannot forecast yet) of difficult determination which will mark a before and after.

Page 6: International Financial Crisis:  Origin and Mutations

INTERNATIONAL FINANCIAL CRISIS: ORIGIN AND MUTATIONS

The Economist February 2008

Page 7: International Financial Crisis:  Origin and Mutations

INTERNATIONAL FINANCIAL CRISIS: ORIGIN AND MUTATIONS

Financial Times March 2008

Financial Times June 2008

Page 8: International Financial Crisis:  Origin and Mutations

INTERNATIONAL FINANCIAL CRISIS: ORIGIN AND MUTATIONS

ORIGIN:

The “subprime” mortgages: 1st victim Northern Rock.

Abuse of securitized emissions (in abusive way)

Linked to firms such as:

Crisis of Bear Stearns & Lehman Brothers. Effects on Insurance companies AIG.

Page 9: International Financial Crisis:  Origin and Mutations

INTERNATIONAL FINANCIAL CRISIS: ORIGIN AND MUTATIONS

The Economist July 2008 Financial Times September 2008

Page 10: International Financial Crisis:  Origin and Mutations

INTERNATIONAL FINANCIAL CRISIS: ORIGIN AND MUTATIONS

The Economist January 2009

Page 11: International Financial Crisis:  Origin and Mutations

INTERNATIONAL FINANCIAL CRISIS: ORIGIN AND MUTATIONS

Financial Times March 2009

Page 12: International Financial Crisis:  Origin and Mutations

INTERNATIONAL FINANCIAL CRISIS: ORIGIN AND MUTATIONS

1. Mutated and changed to Economic crisis :

First symptoms in 2008

The Economist June 2009

Page 13: International Financial Crisis:  Origin and Mutations

INTERNATIONAL FINANCIAL CRISIS: ORIGIN AND MUTATIONS

2. Took on a new dimension with crisis of sovereign debt. (Goverment Issues)

Sharpened during 2010

The Economist May 2010

Page 14: International Financial Crisis:  Origin and Mutations

INTERNATIONAL FINANCIAL CRISIS: ORIGIN AND MUTATIONS

The financial crisis: Impact on the stability and credibility of the three great world currencies:

Euro.

First symptoms in 2008

The Economist February 2010

Page 15: International Financial Crisis:  Origin and Mutations

INTERNATIONAL FINANCIAL CRISIS: ORIGIN AND MUTATIONS

2. US DOLLAR

Sharpened over 2010

Financial Times September 2010

3. POUND STERLING

Page 16: International Financial Crisis:  Origin and Mutations

INTERNATIONAL FINANCIAL CRISIS: ORIGIN AND MUTATIONS

Page 17: International Financial Crisis:  Origin and Mutations

Prof. Dr. Joaquín López Pascual

www.joaquinlopezpascual.com

Page 18: International Financial Crisis:  Origin and Mutations

Gracias por su atención