Abstract
By mid-2011, the global financial crisis was over three years old, and we were not out of it yet. The global recession is over, but the crisis is not. We are not sure how quickly we will go back to normal, and perhaps we do not have a good enough sense of what “normal” is anymore. Paradoxically, for economies already considered ‘mature’, the crisis has been like that point in everyone’s life when we suddenly sense our own mortality, we no longer feel invincible, and we become painfully aware of how fragile our body is. In a similar way, the financial crisis has shattered the confidence of advanced economies, leaving them with a hypochondriac-like fear of collapsing again.
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© 2011 Marco Annunziata
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Annunziata, M. (2011). Exit. In: The Economics of the Financial Crisis. Palgrave Macmillan Finance and Capital Markets Series. Palgrave Macmillan, London. https://doi.org/10.1057/9780230346659_11
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DOI: https://doi.org/10.1057/9780230346659_11
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-32862-8
Online ISBN: 978-0-230-34665-9
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)