On past of the years mankind has faced many economic crises.In our days Europe faces with a debt crisis.Important economists have found similarities between recent crisis and the great deprecion.
As fore me I don't know information about that period,fortunately I wasn't born in that period and I don't know how was the life.About "The Great Depression" I found information on the internet.
In this essay I 'll try to show the important aspects of boths.The Great depression started in US after Stock Marked price for shares have fall.That has happen around 4 September 1929.
After that the global economy failed in deepest deprecion of XXth century.This crisis affected people around the world.Unemployment grew on high level,standard of life also.This deprecion was one of the reasons of started the second world war.Advantage of this situation the nationalism and socialist movements reached on top at political power.Here I can give an example NAZI in Germany.
Back in our days the Euro Debt Crisis have at the base sovereign debt of some important european contry like(Greece,Italy,Spain).This crisis has made difficult for some contries to pay or refinance the government debts without the help of important financial institutions like( World Bank,International Monetary Fund and European Central Bank).
The causes that lead to debt sovereign were:globalization on finance,risk lending and borrowing credits condition,real-estate bubbles ,fiscal policy and last cultural differences between developed contry in north and south.
In conclusion I'd like to emphasize that economic crisis have been and will be more.I hope that I dosen't happen soon.
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