2008 in economics

The following economics-related events occurred in 2008.

Events

October

• October 5
  • The German government moves to back troubled Hypo Real Estate with a 50 billion euro rescue plan. (MarketWatch)
  • German Chancellor Angela Merkel announces that Germany will explicitly guarantee the deposits in banks held by its citizens. (MarketWatch)
• October 9
  • Iceland nationalises Kaupthing Bank.
  • IMF: World on brink of recession; prepares special loan program.
  • Markets down across the world; Dow Jones falls below 9,000.
• October 10
  • Hampshire councils have £3 million invested in Icelandic banks.
  • Dow Jones recovers hundreds of points, before losing them in minutes.
  • Global markets plunge.
  • WTO calls meeting on trade finance and economic crisis.
• October 11
  • G7 says "all available tools" will be used to solve crisis.
  • October 11: Iceland and United Kingdom in diplomatic dispute over financial crisis.
  • October 11: George W. Bush attempts to reassure Americans in radio address.^[1]

References