American banks knew ahead of time that real estate loans with high risk – known as sub-prime loans – would degenerate into a crisis says Yuliya Demyanyk, an economist at the Federal Reserve.
What was surprising for banks was the trigger time and the scale of crisis, says Demyanyk. “Most likely, the crisis was not [...]
The president of the Bulgarian Industrial Association (BIA), Bojidar Danev, said that Bulgaria will not manage to overcome the negative effects of global financial crisis until 2012, according to Sofia News Agency.
Danev added that national budget revenues are down and the system bank of the country has deteriorated. BIA President has said that falling liquidity [...]
The banks from the United States and Europe would need $875 billion (675 billion euro) by the end of the year to return at a level similar to that in the years before the financial crisis. Double that amount would be needed to match the performance obtained in the mid ’90s, according to the [...]
