The Financial Crisis' History

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The Financial crisis' History

The financial crisis lasted eighteen months and its impact on britan was devastating. On the December of 2007, The Financial crisis began, Housing prices lowered drastically and citizens using banks became worried.Then soon after that, banks were closing and shutting down. When people realised this, they took the little money they had out the bank for its safety. Goverment desprately tried to rescue banks, giving billions to banks in the hope of the banks' safety.

Meanwhile, countries across the world were afflicted with this crisis, the world had lost money due to the financial crisis and economics became hard. Due to the Financial Crisis, people could not pay mortgages or pay back the banks in which they lent money from. Around three thousand pounds were the expenses of the financial crisis for everyone in the UK, and possibly other countries.

Finally, the financial crisis ended in the June of 2009, and the banks are safer than ever before! Though the country will possibly have another, we understand the impact it could cause and will maintain the banks' strength.

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