Question

Add one word in each gap:
On 15 September 2008, Lehman Brothers [a Wall Street investment bank]
filed 1. … bankruptcy. This is generally considered 2. … be the day the economic
crisis began in earnest. The then-president George W Bush announced that there
would be no bail-out. “Lehmans, one 3. … the oldest, richest, 4. … powerful
investment banks 5. … the world, was not too big to fail,” says the Telegraph.
“The crash first struck the banking and financial system 6. … the United States,
with spill-overs into Europe,” Daunton explains. “Here, another crisis – one of
sovereign debt – arose from the flawed design of the eurozone; this allowed
countries such 7. … Greece to borrow 8. … similar terms to Germany in the
confidence that the eurozone would bail out the debtors.
“When the crisis hit, the European Central Bank refused 9. … reschedule or
mutualise debt and instead offered a rescue package – on the condition that the
stricken nations pursued policies 10. … austerity.”

Answer 1

Răspuns:

On 15 September 2008, Lehman Brothers [a Wall Street investment bank]

filed a bankruptcy. This is generally considered to be the day the economic

crisis began in earnest. The then-president George W Bush announced that there

would be no bail-out. “Lehmans, one of the oldest, richest, and powerful

investment banks in the world, was not too big to fail,” says the Telegraph.

“The crash first struck the banking and financial system in the United States,

with spill-overs into Europe,” Daunton explains. “Here, another crisis – one of

sovereign debt – arose from the flawed design of the eurozone; this allowed

countries such as Greece to borrow in similar terms to Germany in the

confidence that the eurozone would bail out the debtors.

“When the crisis hit, the European Central Bank refused to reschedule or

mutualise debt and instead offered a rescue package – on the condition that the

stricken nations pursued policies and austerity.”

Explicație:

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