Financial crisis

Earlier this year Kathimerini organized a three-day conference looking back at the 50 years since the restoration of democracy in Greece in 1974, or the Metapolitefsi.

KOPAONIK - Serbian PM Ana Brnabic said at the Kopaonik Business Forum (KBF) on Monday evening Serbia had succeeded in maintaining economic growth despite multiple crises and extremely difficult global circumstances.

KOPAONIK - Serbian PM Ana Brnabic said at the Kopaonik Business Forum (KBF) on Monday evening Serbia had succeeded in maintaining economic growth despite multiple crises and extremely difficult global circumstances.

Bank of Cyprus, the island's largest lender, announced net profits of 487 million euros for the full year 2023.

This brings them closer to pre-financial crisis levels, driven by the high interest rates environment.

The European Central Bank (ECB) has announced it wants to monitor the liquidity of banks in the eurozone more frequently to reduce the future risk of a financial crisis.

Finance minister Jeremy Hunt is today due to announce new measures to support Britain's powerful financial sector, seeking to make the U.K. the "most innovative and competitive" financial centre in the world.

The cost of new housing construction has recorded an increase of 65-70% from mid-2021 to date due to the successive crises - first the disruption in the supply chain caused by the pandemic and then the war in Ukraine. 

Uncertainty continues to pummel the banking industry, despite assurances from financial regulators and bankers such as Jamie Dimon this week that the worst of the recent crisis is over and the health of the banking system remains strong.

Bank shares have sold off on Wall Street this week following the government seizure and subsequent sale of First Republic Bank to JPMorgan.

Developments over the past week have felt eerily familiar for those of us who followed the global financial crisis in 2008. Analysts argued in early 2008 that Bear Stearns' problems were a result of poor management and a failure to hedge risk. The spread of instability to a European bank (Commerzbank) was considered to be limited. Sound familiar?

Do the almost simultaneous bank crises on the opposite sides of the Atlantic imply a disaster like the Lehman Brothers collapse?