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The world economy has been hit by a severe financial crisis, resulting in the worst global economic downturn for over 60 years. Triggered by difficulties in the US housing market that
exposed the way that banks and other lenders had been underestimating real risks for too long, the crisis spread so quickly throughout global financial markets that banking systems around the world were severely destabilised. As a result, the impact has spread beyond the financial system,hitting economic growth, prosperity and jobs throughout the world. [More]

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