Beschreibung
Seminar paper from the year 2009 in the subject Business economics - Offline Marketing and Online Marketing, grade: 1,0, European School of Business Reutlingen, language: English, abstract: The current financial crisis has caused governments and central banks to compete, who will achieve the biggest bail-out- and economic stimulus package including the lowest interest rates. These are supposed to slow down the worldwide recession and avoid a deflation. The current crisis has parallels to the great depression in the 1930th and therefore is also called the great re-pression. The German Government has also installed a safety shield, worth 480 billion Euro for financially suffering banks and financial institutions. Thus, the Financial Markets Stabilization Act was created. It only took a week to pass the bill which is unknown off in Germany and therefore shows the importance of this law. It enables the government to act further than the German Basic Law would allow. The Commerzbank was the first German bank to claim a part of governments help. This was due to high losses in the 4th quarter of 2008 and the acquisition of Dresdner Bank. [.]
