Timeline: Credit crunch to downturn

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Timeline: Credit crunch to downturn

Post by AngryAsWell »

Defined as "a severe shortage of money or credit", the start of the phenomenon has been pinpointed as 9 August 2007 when bad news from French bank BNP Paribas triggered sharp rise in the cost of credit, and made the financial world realise how serious the situation was.

The roots of the credit crunch, however, started earlier.

A quick guide to the origins of the global financial crisis.

http://news.bbc.co.uk/1/hi/7521250.stm" onclick="window.open(this.href);return false;
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