Reader small image

You're reading from  Machine Learning with R Quick Start Guide

Product typeBook
Published inMar 2019
Reading LevelIntermediate
PublisherPackt
ISBN-139781838644338
Edition1st Edition
Languages
Tools
Right arrow
Author (1)
Iván Pastor Sanz
Iván Pastor Sanz
author image
Iván Pastor Sanz

Ivn Pastor Sanz is a lead data scientist and machine learning enthusiast with extensive experience in finance, risk management, and credit risk modeling. Ivn has always endeavored to find solutions to make banking more comprehensible, accessible, and fair. Thus, in his thesis to obtain his PhD in economics, Ivn tried to identify the origins of the 2008 financial crisis and suggest ways to avoid a similar crisis in the future.
Read more about Iván Pastor Sanz

Right arrow

A general overview of economic problems in countries

The worldwide financial crisis of 2008 started as a bank-level crisis that closed the flow of money and increased financial instability. During the first few months, the impact was felt primarily by financial institutions and intermediaries. After that, however, it then reached macroeconomic dimensions, threatening the stability of entire countries.

The European Union, the International Monetary Fund (IMF), and the European Central Bank (ECB) took urgent measures to avoid the insolvency of some countries. As a result, Greece received 110 billion in 2010 to pay its public debt. This loan was the start of further expenditure. Ireland received 87 billion euros in November 2017 with the same aim. Problems were then identified in Portugal in 2011 and an additional loan was received by Greece. Spain and Cyprus also...

lock icon
The rest of the page is locked
Previous PageNext Page
You have been reading a chapter from
Machine Learning with R Quick Start Guide
Published in: Mar 2019Publisher: PacktISBN-13: 9781838644338

Author (1)

author image
Iván Pastor Sanz

Ivn Pastor Sanz is a lead data scientist and machine learning enthusiast with extensive experience in finance, risk management, and credit risk modeling. Ivn has always endeavored to find solutions to make banking more comprehensible, accessible, and fair. Thus, in his thesis to obtain his PhD in economics, Ivn tried to identify the origins of the 2008 financial crisis and suggest ways to avoid a similar crisis in the future.
Read more about Iván Pastor Sanz