Today I will start posting in the “Understanding October 2008/Romania” category. Why today? Because is the day that started it all.
September 15th 2008 Lehman Brothers declares bankruptcy. Sadly it did not end it all in the sense that the crisis is still with us fed by government money all over the world.
For the world going forward there are two options, either we keep this day alone in the history of global economy or we dilute is importance by allowing for French banks default day, Italian banks default day, Greek default day, Portugal default day etc…
To get you in the spirit of these posts here are some views expressed at the time:
Link to what our officials at the time said about the crisis two weeks after Lehman (for non-romanians google translate does a good job, I tried it):
“Why Romania will not be affected by the global crisis“.
And here is what I was saying on October 3rd 2008: “Romania is not immune to global crisis”