What is the nature of financial crisis?

In a financial crisis, asset prices see a steep decline in value, businesses and consumers are unable to pay their debts, and financial institutions experience liquidity shortages. A financial crisis may be limited to banks or spread throughout a single economy, the economy of a region, or economies worldwide.

What are the major events of the financial crisis?

In this guide, we’ll cover

• January 2008 — Central banks cut rates.
• February 2008 — Washington tries emergency stimulus.
• March 2008 — Bear Stearns fails.
• April to June — The subprime crisis becomes a global crisis.
• July — Banks begin to fail.
• September — Lehman Brothers fails, GSEs nationalized.
• October — Congress passes TARP.

What are the types of financial crisis?

Types of Financial crisis

• Currency crisis. The situation where doubts exist if the central bank of a country has enough foreign exchange for maintaining the country’s fixed exchange rate is called a currency crisis.
• Banking crisis.
• Speculative Bubbles.
• International financial crisis.
• Wider economic crisis.

Is Cyprus in banking crisis?

Just six years ago, the Bank of Cyprus looked to be on the brink of collapse. The Mediterranean island’s largest lender was badly affected by the economic crisis that hit Cyprus in 2013 and led to the collapse of several of its competitors.

Is Cyprus English?

Cyprus became a British protectorate in 1912; by 1922, it was a crown colony. It gained independence in 1960, on the proviso that Britain maintained its military territories. Today, the two UK Sovereign Base Areas (SBAs) occupy nearly three per cent of Cyprus. Half a century on, Britain is still here.

What is the Cyprus conflict?

The Cyprus conflict, also known as the Cyprus dispute, Cyprus issue, Cyprus question or Cyprus problem, is an ongoing dispute between Greek Cypriots and Turkish Cypriots.

Is there a solution to the Cyprus crisis?

James Ker-Lindsay (expert advisor to UN Special Advisor on Cyprus): “As the status quo in Cyprus becomes untenable, perhaps the solution lies in a more radical option – partition.” James Ker-Lindsay (3 September 2007). “The unmentionable solution – part 2”.

When did the Cyprus crisis end?

The crisis effectively ended in December 1998 with the decision of the Cypriot government to transfer the S-300s to Crete, in exchange for alternative weapons from Greece . In 1997 the basic parameters of the Cyprus Dispute changed.

What happened to Greek Cypriots in Northern Cyprus?

During Turkey’s military intervention/invasion in 1974, many Greek Cypriots (who owned 90% of the land and property in the north) were forced to abandon their homes. (A few Turkish Cypriots were also forced to abandon their homes in the South.)