Question

Which statement best summarizes the financial crisis of 2008?

Answer 1

Answer:

The statement that best summarizes the financial crisis of 2008 is that problems in the US economy caused the global economy to slow down, which made it harder for the United States to recover.

Explanation:

The financial crisis of 2007–2008 was a global financial crisis that is considered the worst financial crisis since the Great Depression of the 1930s. It began in the US loan market, and affected most of the world from mid-2008, mainly as a result of an overvalued and over-mortgaged housing market in the US. In many parts of the world, the financial crisis led to several years of recession, where entire countries risked bankruptcy (Iceland, Greece and Spain, among others) and even the European cooperation was threatened. The crisis lasted for several years and even five years later, work continued to clean up the aftermath of the crisis, including through ongoing legal processes and sales of assets from bankruptcy estates.