The Current State of the Global Financial System and its Impact on Korea's Economy

Over the last few years, the world has seen financial and economic disruptions not seen since the Great Depression. After recovering from what has become known as the Great Recession, we have  seen growth begin to slow in recent months and increaing concerns that a new crisis could be forming in Europe over the issues of sovereign debt and the Euro. The growing crisis in Europe has been coupled with the unprecedented downgrade of the United States by Standards & Poors. Governor Kim discussed the underlying causes of the initial global crisis in 2008, as well as the current crisis in Europe, and how Korea weathered the first crisis and the second may impact its economic performance.