Economy;Insurance

Main stages in the financial crisis that erupted in early 2007 in the United States and Europe began to affect.

- February 2007: lending to non-payment mortgage (granted to the debtors do not have adequate capacity to pay) condenses in the United States and the first cause of bankruptcies in the specialized banking institutions.

- August 2007: The stock market is deteriorating at risk for the widening crisis, central banks intervene to support market liquidity.

- October to December 2007: Several major banks announced a significant decline in stock prices because of the mortgage crisis.

- January 22, 2008: U.S. Federal Reserve (central bank) cut its key interest rate three-quarters of a point to 3.50%, which is an exceptional volume. Was then gradually reduced to 2% between January and the end of April.

- February 17, 2008: The British government nationalized bank "Northern Rock".

- 11 March 2008: the concerted efforts of central banks once again to address the market advances.

- 16 March 2008: "JPMorgan Chase" declares the purchase of Bank of American business, "Bear Stearns" at a low and with the financial assistance of the Federal Reserve.

- 7 September 2008: U.S. Treasury Department put the two giants in the field of mortgage lending to "Freddie Mac" and "Fannie Mae" under the guardianship over the period in which to restructure Thtajmanha Malithma, while ensuring their debts to the borders of 200 billion dollars.

- 15 September 2008: recognition of the bank business, "Lehman Brothers" Bivlassh While declaring one of the leading U.S. banks a "Bank of America" buy another bank to work on Wall Street is "Merrill Lynch".

- Ten international banks agreed to establish a fund for liquidity capital 70 billion dollars to address the most pressing needs, while the central banks agree to open the areas of credit. However, this did not prevent the decline in international stock markets.

- 16 September 2008: Federal Reserve and the U.S. government Twmman de facto largest insurance group in the world, "AIG" threatened bankruptcy by granting assistance amounting to 85 billion dollars for possession of 9.79% of the capital.

- 17 September 2008: Global stock markets continue to deteriorate and credit weakens the financial system. And intensify the operations of central banks to provide liquidity to financial institutions.

- 18 September 2008: Bank of England "Lloyd TSB" buy rival "HBOS" at risk of going bankrupt.

- U.S. authorities announce that it is a plan worth 700 billion dollars to rid the banks of the assets of non-negotiable for sale.

-19 September 2008: U.S. President George W. Bush appealed to "act immediately" on a rescue plan for banks to avoid aggravating the crisis in the United States.

- 23 September 2008: The financial crisis dominated the discussions in the General Assembly of the United Nations in New York.

- The financial markets increased concern about the stall in front of the U.S. plan.

- 26 September 2008: the collapse of the banking group's share price, insurance, Belgian-Dutch "Fortis" in the stock market because of doubts about their ability to meet its obligations. In the United States buy the bank, "JP Morgan" rival "Washington Mutual", to help federal authorities.

- 28 September 2008: U.S. rescue plan been agreed to in Congress. In Europe, being floated, "Fortis" by the authorities of Belgium, the Netherlands and Luxembourg. In Britain, the Bank was nationalized, "Bradford and Bingley."

-29 September 2008: U.S. House of Representatives rejected the bailout plan. Wall Street's collapse a few hours after European stock markets fell sharply, while interest rates continued to rise between banks sealing banks to refinance themselves.

- "Bank announced that Citigroup" that they are buying U.S. rival "Wachovia" with the assistance of federal authorities.

- The first of October, 2008: U.S. Senate approve a revised bailout plan.