Jump to Content Jump to Main Navigation
Max Planck Encyclopedia of Public International Law [MPEPIL]

Debt Crisis

Christian Walter

From: Oxford Public International Law (http://opil.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 13 June 2024


Published under the auspices of the Max Planck Institute for Comparative Public Law and International Law under the direction of Professor Anne Peters (2021–) and Professor Rüdiger Wolfrum (2004–2020). 

1 The term ‘financial crisis’ is applied in different settings and with different connotations. The common basic characteristic is a situation in which financial institutions or assets suddenly lose a large part of their value. The 1929 Wall Street Crash (‘Black Thursday’) and the ensuing Great Depression may be mentioned as the most widely known and most severe example of a financial crisis in the 20th century. 2 Different types of financial crises can be distinguished (IMF ‘World Economic Outlook, May 1998: Financial Crises: Causes and Indicators’ 74). According...
Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.