Publication
5 Jun 2008
The acute phase of the financial market problems that started in the summer of 2007 now seems to be coming to an end. This is the right time to focus once more on the fundamentals that caused the crisis in the first place. The key factor that drove the buildup of the imbalances that subsequently gave rise to the crisis was obviously the boom (and now bust) in housing markets, mostly in the US, but also in a number of other countries.
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English (PDF, 2 pages, 48 KB) |
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Author | Cecilia Frale, Daniel Gros |
Series | CEPS Commentaries |
Publisher | Centre for European Policy Studies (CEPS) |
Copyright | © 2008 Centre for European Policy Studies (CEPS) |