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Economía: teoría y práctica

versão On-line ISSN 2448-7481versão impressa ISSN 0188-3380

Resumo

GUTIERREZ RODRIGUEZ, Roberto. La primera crisis financiera global del siglo XXI: origen, contención e implicaciones productivas y laborales. Econ: teor. práct [online]. 2013, n.39, pp.145-193. ISSN 2448-7481.

Financial deregulation in USA and a group of European countries close to such an economy, particularly UK, as a consequence of the economic and financial globalization of the 1980s, the Glass-Steagall Act repeal, in 1999, and the lowering of interest rates from 2002 onwards, were key elements for the design of a new international financial architecture. The direct effect of all this was the crisis of 2008-2009, which started in USA and was eradiated almost immediately to Europe and other regions of the world, through a chain of causation that involved virtually all instances of the financial system. Although Bush and Obama administrations reacted swiftly, the consequences for the global economy were paramount, and are still present due to the beginning in 2012 of a double-dip recession in Spain, UK, Italy and other European countries (it never left Greece) and for whose eradication the participation of the international financial system was required, as well as the deepening of adjustment policies, with profound and hard to reverse labor costs.

Palavras-chave : financial crisis; financial deregulation; toxic assets; bailout; labor market.

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