When an American surveillance plane discovered the missiles, the crisis erupted.

First came the Greek crisis, followed by the Greek bailout.

Then the global financial crisis hit, and Strauss Kahn was propelled to center stage.

Bankers boast of having paid back in full the government bailout funds that they received when the crisis erupted.

Then came the financial crisis, with the central government adopting fiscal stimulus and relaxing monetary policy.

When crisis hit, however, the cost of the meltdown exceeded the companies equity and thus had to be socialized.

BRUSSELS Two years have passed since the financial crises erupted, and we have only started to realize how costly it is likely to be.

The global crisis erupted because major problems in the functioning of the banking sector had been left unaddressed.

CAMBRIDGE When the financial crisis of 2008 hit, many shocked critics asked why markets, regulators, and financial experts failed to see it coming.

When the financial crisis came, Chile was able to mount an aggressive fiscal stimulus without so much as a hiccup from financial markets.

Five years after the global financial crisis, too many countries are being held back by exhausted and out dated growth engines.

Consider the following. The financial crisis erupted in 2008 when mortgage backed securities were revalued at much less than what they had been thought to be worth.

And ten years ago, during the financial crisis, violent anti Chinese riots erupted again, causing many Chinese to flee the country.

Ever since the Greek crisis began, the country has shown that it cannot solve its problems as the IMF and the European Commission had hoped.

Leading drivers of employment growth have been government, health care, and, until the crisis, construction.

As a result, he was ready to adopt unconventional measures when the crisis erupted, and was persuasive in influencing his colleagues.

The financial crisis in late 2008 brought recession, but no one has blamed carbon pricing.

Had the European Central Bank been entitled to deploy enough firepower when the Greek crisis first erupted, the threat would have lasted only two hours.

As a result, when the Asian financial crisis struck in 1997, China was insulated from the volatility that ravaged its fragile neighbors.

The November 2004 crisis also had a significant impact on the economic situation within the country.

Indeed, China s economy has experienced a significant and ongoing growth slowdown in the wake of the global economic crisis that erupted five years ago.

When the financial crisis erupted with full force in 2008, the world s major central banks were right to employ exceptional measures.

But every major international crisis since then has chipped away at its authority. The 1997 1998 Asian financial crisis undermined its legitimacy in Asia, as many governments in the region believed that the crisis was being exploited by the United States and US financial institutions.

Sixteen years ago, the Asian financial crisis erupted, following the Thai government s decision to float the baht in the face of speculative attacks.

This was tolerable as long as the overall pie was expanding, but the global financial crisis in 2008 ended that.

Thus, four years after the crisis erupted, methods for measuring and assessing economic health remain alarmingly inadequate.

One year after protests began in Damascus and Daraa, the Syrian opposition's fight against the Assad regime continues amidst global ambivalence toward the conflict.

BERLIN It s when the tide goes out that you find out who has been swimming naked, the legendary investor Warren Buffett aptly remarked when the global economic crisis hit.

Then, crisis erupted in May, when the country ran low on foreign currency reserves and traders could not purchase the dollars they needed.

Urgent action is needed, as the recent financial and economic crisis, following hard on the heels of the food price crisis, is believed to have set back progress on poverty reduction even further.

Even mortgage backed securities, which were at the center of the financial crisis that erupted in 2008, have important uses in spreading home and auto ownership.

This pattern was evident in the 1997 1998 Asian financial crisis, the 2008 global financial crisis, and the eurozone crisis that erupted in 2010.

What ensued was the first great international crisis of the post Cold War era, one that, in less than a year, led to the liberation of Kuwait, along with the restoration of its government.

CANBERRA The Great Recession of 2008 reached the farthest corners of the earth. Here in Australia, they refer to it as the GFC the global financial crisis.

CANBERRA SEOUL Almost four years after the start of the global financial crisis, the world economy remains fragile and unemployment is unacceptably high.

The cheap credit ushered in by the euro fed an inflationary economic bubble in southern Europe that burst when the financial crisis hit.

These industries have created some new jobs, but not many and that was before the financial crisis erupted in 2008.

After all, when the global financial crisis erupted in 2008 from the bowels of the American subprime mortgage market, global investors responded by fleeing to the US, not from it.

For starters, the world s investors declared loud and clear in 2008 that they were not concerned about the sustainability of US deficits. When the global financial crisis erupted, they flooded into dollar assets, even though the crisis originated in the United States.

The regulations in place when the crisis erupted were both inadequate and inadequately enforced, and the reforms proposed since then do little better.

Hostilities have commenced.

LONDON The financial crisis that started in 2007 shrunk the world economy by 6 in two years, doubling unemployment.

MILAN It is about 18 months since the financial crisis hit, and 12 months since the panic started to recede, with asset prices stabilizing and beginning to turn up.

And Iraq s invasion of Kuwait in August 1990 led to a spike in oil prices at a time when a US banking crisis was already tipping America into recession.

When the Arab Spring erupted in Tunisia and Egypt in January 2011, protests erupted in Syria as well.