{"id":37311,"date":"2008-05-22T00:00:00","date_gmt":"2008-05-21T22:00:00","guid":{"rendered":"https:\/\/aebanca.es\/actualidad\/te-interesa\/aeb-informa\/the-financial-crisis-where-do-we-stand\/"},"modified":"2026-04-09T09:54:10","modified_gmt":"2026-04-09T07:54:10","slug":"the-financial-crisis-where-do-we-stand","status":"publish","type":"blog-aeb","link":"https:\/\/aebanca.es\/en\/actualidad\/te-interesa\/aeb-informa\/the-financial-crisis-where-do-we-stand\/","title":{"rendered":"The financial crisis: Where do we stand?"},"content":{"rendered":"<p class=\"p1\">IMF (early April 2008):<\/p>\n<p class=\"p1\">The European financial system\u2019s stress test is not over. Concern about the impact of the crisis on the real economy \u2013 There is a clear possibility that a worsening of the credit crunch will amplify the slowdown. BoE (FSR) (late April 2008) Spanish Banking Association It is most likely that market conditions will improve in the future\u2026 although the possibility that the situation will worsen remains. Henry Paulson (May 8, 2008) We are closer to the end than the beginning\u2026 although there may still be unpleasant surprises. Ben S. Bernanke (May 13, 2008) The turbulence is easing, but the situation is still far from normal.    <\/p>\n<p>In any case, the Authorities and Financial Institutions acknowledge the seriousness of the crisis: it is not merely turbulence; they acknowledge the damage caused by the crisis to: the real economy: recession in the USA; Spanish Banking Association, slowdown in Europe: \u00be pp of GDP in 2008 and 2009 \u2013 25% probability of a global recession; losses for financial institutions: $945bn (around $500bn in banks).<\/p>\n<p>The causes of the crisis are analysed and denounced.<\/p>\n<h6><a href=\"https:\/\/aebanca.es\/wp-content\/uploads\/2017\/12\/01-200809648.pdf\">View the complete presentation<\/a><\/h6>\n","protected":false},"excerpt":{"rendered":"<p>The financial crisis:<\/p>\n<p>Where do we stand?<\/p>\n<p>The end of the crisis is closer<\/p>\n<p>Future outlook<\/p>\n<p>What should we do?<\/p>\n<p>Proposals from International Organisations<\/p>\n<p>The situation in Spain<\/p>\n","protected":false},"featured_media":0,"parent":0,"template":"","etiquetas":[287,366,618,327],"categorias-blog":[783],"class_list":["post-37311","blog-aeb","type-blog-aeb","status-publish","hentry","etiquetas-banca","etiquetas-depositos","etiquetas-hipoteca","etiquetas-tipos-de-interes","categorias-blog-presidency"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Blog AEB - Asociaci\u00f3n Espa\u00f1ola de Banca<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/aebanca.es\/en\/actualidad\/te-interesa\/aeb-informa\/the-financial-crisis-where-do-we-stand\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blog AEB - Asociaci\u00f3n Espa\u00f1ola de Banca\" \/>\n<meta property=\"og:description\" content=\"The financial crisis: Where do we stand? The end of the crisis is closer Future outlook What should we do? 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