The economic crisis
A series of financial market events has culminated in the worst international banking crisis in generations. Despite unprecedented interventions by governments, the crisis triggered a global economic downturn necessitating further action.
The crisis unfolds
The financial crisis broke in summer 2007 against a backdrop of strong economic growth, low inflation and low unemployment.
Impact on the wider economy
The global economy was growing strongly when the subprime crisis hit. In the UK, the economy was close to trend, inflation was close to target, public sector debt was relatively low and unemployment remained low.
Context of the global financial crisis
Globalisation has delivered significant benefits. However, globalisation also brings challenges.
The UK response
The global financial crisis has required unprecedented action from governments, central banks and regulatory authorities across the world. Governments have stepped in where markets have failed.
Related sites
Editors' blog
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Time for reflection
05/04/2009 -
The morning after
03/04/2009
Posición de España
Preparación de la Cumbre del G-20 en Londres: Posición de España. In preparation for the London Summit, Spain sets out its proposals as a contribution towards the debate.