Presented by: Samira, Azatour, Ryan, Abderrafie and Edmond Supervised by: MRS Imane Benzeroual

Content
1) Definition 2) Causes -Long causes -Immediate causes 3) Evolution of the crisis 4)Consequence of the crisis up today - Economical - Cultural and social - Political 5) Tentatives of solving the crisis 6) Why does this economic crisis still persit? 7) Prospects about the world economy References

1 ) Approach definitional
Economic crisis is when the economy of a country is suffering from a downturn caused most of the times by a financial crisis.

2) Causes
Long Causes
-Post SECOND WORLD WAR PERIOD and wasted resources on wars (unemployment and inflation) -Huge Debts -very complex tax system -Deficits observed on trade (mainly the difference between the Chinese Yuan and the US Dollars) -Heavy financial industry sometimes penalize the consumer

Immediate causes
- Losses in the US Housing Market:

-Mortgage crisis - Bank loans with hight interest rate and Credit crisis

3) Evolution of the crisis

Mortgage crisis

Financial crisis

Economic crisis From USA Europe Africa Worldwide

4)Consequence of the crisis up today

Economical -Shocks to the Global Economy. -Increase of the budget deficit = increase national debt -Impact on Developed Countries and Emerging Economies. -Effect on Global Output Growth.

Social and Cultural -Labour intensive sectors early casualties -Impacts on migrant workers sector-specific -Impacts on micro-credit still unfoldin -High food prices add to the burden -Raise xenophobia ! -Social unrests -Decrease of the number of cultural activities and facilities Political consequences -Political instability -Collapse of governments and regims -Vote of reforms -Referendum -Anticipated election EX. Ireland

5) Tentative of solving the crisis

-Arrival of saver of the planet - A serie of Bailouts($700billion) -Monetary policy= Decrease of supply of money=Raise Interest rate

-Now, Fiscal Policy= decrease of spending =Taxes raises

6) Why does this economic crisis still persit?

-The lack of union among decisions makers -Politician focused on being reelected than solving the problem -The global dimension and the complexity of the crisis

-Real problem not yet addressed clearly

7)Prospects about the World Economy

The global economy (2.5% & 3.1% in 2012 & 2013) Vs (3.6% projected in June for both years) High-income countries (1.4% & 2.0% in 2012 & 2013) Vs (2.7% & 2.6%) Developing countries (5.4% & 6.0% in 2012 & 2013) Vs (6.2% & 6.3%) World trade was (6.6% in 2011), (4.7% in 2012) and (6.8% in 2013)

References
Fred , M .,2009. The U.S. economic crisis: Causes and solutions. International Socialist Review. .[Online] Available at :<http://www.isreview.org/issues/64/featmoseley.shtml> [Accessed 09 March 2012]. Andrew,K.R, and Mark,M.S.,2009. CROSS-COUNTRY CAUSES AND CONSEQUENCES OF THE 2008 CRISIS:EARLY WARNING. In: NATIONAL BUREAU OF ECONOMIC RESEARCH. NBER WORKING PAPER SERIES. Massachusetts, September 2009.Cambridge:NATIONAL BUREAU OF ECONOMIC RESEARC Luis,B, and Fabio,D.,2010. The Financial Crisis and its Impact on the Current Models of Governance and Management of the Cultural Sector in Europe. ENCATC JOURNAL OF CULTURAL MANAGEMENT AND POLICY. 12(1).pp:411. Mark,J.,2009. Causes of the Financial crisis.CRS Report for congress. 12(2),pp:18 The World Bank/The World Bank. 2012. Global Economic Prospects. [ONLINE] Available at: <http://go.worldbank.org/RWLJPPA0D0>. [Accessed 11 March 12].

Thank you for your . listening!