What is a financial crisis? What are the causes of a financial crisis, and what are its effects? What are the expectations, for the evaluation of the financial crisis? These are the questions that are going to be answered in this report. This topic is in relation with the company ABX logistics, "the office in Valencia". If we talk about a crisis in general, this means there are rapid negative changes. A financial crisis means that there are negative changes in the economy. At the end of 2007 changes began to be made in the world economy. This was the effect of mistakes which banks in the United States made. At the end of the 20th century they offered their clients loans, which the clients could not pay back. Because the economy in the United States was going so good, banks offered loans to their clients that were 125% of the value of the house they wanted to buy. This was so that the clients could also buy a car. At this moment there were so many houses being sold and being built that after a few years the value of the houses dropped again. Because people in the United States did not have a loan on themselves they just gave back their worthless houses to the bank. The banks did not recover the money, they gave to their clients. Many banks almost wend bankrupt. Banks didn't have much money, while there was still demand for money. This is the case in a crisis. The demand for money is larger that the amount that can be offered. These banks then received money from the governments to be able to survive.
[...] An other effect of the financial crisis is caused by foreign investors. Those foreign investors put there money in treasury securities of the United States. When those investors think there money is not save anymore, the are going to retreat there money and put it in safer places. They could put there money in gold, cash, or treasury bonds. Citizens of America will buy the treasury securities because they trust the United States government to make good on its debts. [...]
[...] Due to the crisis together with the fusion 160 employees need to leaf the ABX logistic offices in Spain. Ninety of them are in the office in Barcelona, the other 70 are divided over the offices in Spain. In total there are 750 employees in the offices in Spain. Of those 750, twenty percent needs to leaf. There are 15 offices in Spain. Some of the offices are small others, like the office in Valencia, are bigger. This means that proximally 7 employees will have to leaf the office in Valencia. [...]
[...] The crisis was not the main reason why they started the fusion. The companies already were interested in the fusion for a longer time. But maybe the crisis was the final factor, to decide to start the fusion. It gives advantages for the company, in reducing labour, costs, etc. *explanation in the part fusion in times of a crisis”. (The information in this part came forward out of a interview with the head of the commercial department, Señore Vicente Ramon Moya.) Conclusion The report makes certain issues clear. [...]
[...] When the dollar dropt to the currency of $ 1.55 for it was also the moment the crisis came in the United States. When the euro started dropping to it's deepest point in more than 2 years, this was in august, when the crisis came in Europe. The picture shows that in the start of an economic crisis, the drop of the money value is the biggest. After this rapid drop it stabilizes. This is not always the case, but it depends on the way the government reacts and which actions it takes to prevent major problems. [...]
[...] After this prediction came another one which said that the crisis will hold on longer that until 2010. Another prediction is that the economy will never manage to have the same level of the last few years before the crisis. The European economy will change a lot in a negative way, but as we can see in the “appendix, picture: the value of the dollar will change more negative than the euro, until June 2009. The picture shows an average for each month, how much dollar has the same value as 1 euro, until July 2009. [...]
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