Financial crisis

UK Eyes Financial Reform on Global Crisis 

The financial crisis felt so keenly in the US housing market and broader economy has become a global ailment — and necessitates a global remedy — according to a report on the British government’s plans for financial market reform. “The world economy has been hit by a severe financial crisis, resulting in the worst global economic downturn for over 60 years,” writes the Chancellor of the Exchequer Alistair Darling in an executive summary of the paper.