Lehman Brothers

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

Lately, we have witnessed a number of significant events go down in financial history. In August 2018, 20 years had passed since Russia declared bankruptcy with the primary reason being a substantial drop in the prices of resources, especially oil which quoted at US $9 per barrel. In September, we looked back on how Lehman Brothers, a major American bank, faced bankruptcy.

Greece’s Supreme Court decided in favor of the wideow of a Greek pensioner who took defunct finance firm, Lehman Brothers, to court reports daily Greek newspaper, Ethnos.

It is very sad to see the world economy return to the same tough conditions it saw during the time of the Lehman Brothers bankruptcy seven years ago, Koç Holding board member and B-20 Employment Task head Ali Koç has said. 

Global trade has contracted to the lowest levels seen since the 2008 financial crisis, according to a report released Aug. 26 by the World Trade Monitor.

Trade momentum was minus 0.5 percent in June, and minus 1.6 percent in May. Import momentum was negative or zero in all major regions.

Former Bank of England policymaker DeAnne Julius said a Greek exit from the euro area probably wouldn?t mean a financial fallout such as that in the wake of the 2008 collapse of Lehman Brothers Holdings Inc.

?There?s very little risk of a Lehman-type moment? immediately after a Greek exit, Julius said in an interview on Bloomberg Television on Tuesday.