It has been 500 days since the start of the most significant financial crisis of recent decades, which has brought global money and credit markets to a standstill and is preventing the normal functioning of financing for the economy.
The loss of confidence between institutions, the uncertainty among market participants about the true financial position of their usual counterparties, and the lack of transparency regarding each institution’s actual exposures are preventing the international financial system from funding itself normally, in terms of both volume and maturity, in wholesale markets.
