Definition

The global economic crisis is a temporal phenomenon which we can rarely escape. For a decade, we lived close to a dozen recessions which have had significant impact worldwide.

According to Wikipedia, an economic crisis is defined as: An economic crisis is characterized by a deep downturn in the economic situation of a country, a nation or a larger geographic area. Moreover, economists believe that a country is in a position of financial and economic crisis when the economic growth it is negative for two consecutive quarters.

Even if today, the greatest economists working in government agencies, are all that is in their power to prevent an explosion of the economy, economic factors make it difficult to avoid disasters leading to potential crises or economic or financial crises such as the one raging now in the Euro zone.