The global financial crisis started affecting the economies in mid 2007 and the after effects were felt from 2008. The effects are such as falling stock markets, the collapse of financial institutions and governments around the world dealing with financial failure and debts. The European trading bloc is one that has faced the worst crisis in history as a result of the financial meltdown. The globalised economies both in trade and national economies create the interconnected financial systems that are why the crisis affected almost everyone on the planet. One suggestion by the author is that the crisis could have been avoided if the supporting ideologies on economics did not influence the running of the globalised economy were not inconsiderate on new approaches. However despite the mystery behind the meltdown with some blaming it on the Wall Street and others speculating. The blame too Wall Street is because it has the influence for most of the institutions in the banking industry and major registered equities as well as it hold a major stake on the ideologies behind the global financial system.
This article is good in that it reveals the scope of the global financial meltdown which is true that the effect was felt by almost everyone on the planet. The European Union bloc is one that has been crippled in its prosperity by the crisis with Greece going bankrupt and needed emergency bailout. Such unforeseen situation that hit such a bloc is one of the aspects of a global crisis always unseen until it hits hard. Additionally, the article needs to help identify the source the source or the cause as is normally unseen and what remain are destructive effects that leave many speculative and untrustworthy on the global financial system and globalised economy. In conclusion, article should be improved to explain the ideologies that regulate and lay the framework for the globalised economy are prone to such devastating effects since they are inconsiderate of the importance of some underlying factors present in the global economy.
Europe warned crisis not over yet (2012), Financial Times http://www.ft.com/cms/s/0/e07e1b8e-7a8a-11e1-8ae6-00144feab49a.html retrieved on 1st April 2012
