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The International Monetary System III. Dr. Antony Mueller. Major events 1997-2004. 1997: East Asian financial and economic crisis 1999: Brazilian currency crisis. End of Plano Real New Economy Euphoria 2000: Crash of Nasdaq stocks (down 70 per cent)
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The International Monetary System III Dr. Antony Mueller
Major events 1997-2004 • 1997: East Asian financial and economic crisis • 1999: Brazilian currency crisis. End of Plano Real • New Economy Euphoria • 2000: Crash of Nasdaq stocks (down 70 per cent) • 2002: January 1: Euro becomes legal tend in 11 (later 12) EU countries • 2003/04: global concerns abut US government and current account deficits • 2004: “Eastern Enlargement” of the European Union
Events 2002 - 2004 • 2002: January 1: Euro becomes legal tend in 11 (later 12) EU countries • 2003/04: global concerns abut US government and current account deficits • 2004: “Eastern Enlargement” of the European Union
2005 - 2006 • “The Great Moderation” • Second US American Boom • Rise of China • Take-off of India • Growth recovery in Brazil • Continuous yet moderate weakening of the US dollar • Concerns about global imbalances recede
2007 • Sudden breakdown of the international Interbank market • Onset of US real estate crisis • Massive liquidity injections by central banks • Drastic policy rate cuts by US central bank • Fragile stabilization
Tópico três • Detalhes sobre este tópico • Exemplos e informações de suporte • Como isso se relaciona com o público
2008 Spring • Further liquidity injections by central banks • Drastic rate cuts by US central bank • Crisis of US housing markets deepens • US economy weakens • Inflation concerns on the rise • US dollar continuous to weaken
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