For more than four years now, financial and debt crises have been dominating the political agenda in Europe and beyond. Back in November 2008, DIE director Dirk Messner and Simon Maxwell, former director of the Overseas Development Institute, formulated five steps which are necessary to restructure the global order.
Supported by cash injections and stimulus packages worth billions of euros, the financial sector and the economy recovered relatively well and fast from the crisis. Since 2010, the industrialised countries have been facing, once again, enormous challenges: The U.S. are struggling with a weak economy, high unemployment and a record level of debt. Europe is still in the midst of a debt crisis. In Greece, the situation escalated most clearly. Since then, the rescue packages to stabilise the euro zone have been on everyone's lips, but are, at the same time, politically highly controversial.
What impact do these developments of recent years have on developing and emerging countries? In turn, how do these countries react to the new situation?
In this special, the German Development Institute / Deutsches Institut für Entwicklungspolitik (DIE) provides you with its publications and expertise on the implications and responses to the financial crisis in developing and emerging countries.