Sample Essay

France was another country that was seriously hit by the financial crisis of the 1970 through to 1980 despite the fact that it is a developed country and a member of the European Union. It experienced almost the same problems as the United Kingdom and other countries who were hit by the same (Bianchi et al. 1995). French during this period found it difficult to pay for the loans and the debts simply because the financial crisis had lowered the value of their currency, which essentially meant that a huge sum of money was required during that time to offset a smaller amount of loan borrowed some years back (Buller & Gamble, 2008). There was an increase in the unemployment rate within France causing the negative effects of the unemployment such as the social decay. These effects and many others prompted the government of France to respond to the financial crisis by developing strategies essential for enhancing the mitigation of risks associated with the financial crisis (Baert, 2005).

France was another country that was seriously hit by the financial crisis of the 1970 through to 1980 despite the fact that it is a developed country and a member of the European Union. It experienced almost the same problems as the United Kingdom and other countries who were hit by the same (Bianchi et al. 1995). French during this period found it difficult to pay for the loans and the debts simply because the financial crisis had lowered the value of their currency, which essentially meant that a huge sum of money was required during that time to offset a smaller amount of loan borrowed some years back (Buller & Gamble, 2008). There was an increase in the unemployment rate within France causing the negative effects of the unemployment such as the social decay. These effects and many others prompted the government of France to respond to the financial crisis by developing strategies essential for enhancing the mitigation of risks associated with the financial crisis (Baert, 2005).

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