In recent weeks, the global liquidity and credit crunch that started last August has become more severe.

The world is passing through the greatest economic crisis in decades.

STANFORD, CALIFORNIA The current credit crisis has led to scaled back projections for growth around the world.

But the Fed cannot endow the banks with new equity capital and prevent a credit crunch.

The market is large.

The credit crisis exposed the flimsy foundations of the sustained growth that the US and Europe enjoyed during the past four to five years.

The New Monetary Disorder

This is the largest.

That is why you can be sure that we will have another major financial crisis sometime in the future, once this one has disappeared into the recesses of our memory.

The spread of bankruptcies triggered a severe credit crunch, which triggered a deep recession and with it a brutal rise in unemployment.

Your dog is very big.

Tom has a big nose.

The recent credit and liquidity crisis has revealed a similar condition in financial markets, because no one, not even central banks, seems to understand its nature or magnitude.

The international balance of payments remains in surplus, and there is still a net capital inflow despite the global credit crunch.

That is evident from their credit ratings.

It is the monetary authority of a federation of sovereign states.

Barcelona The financial crisis, credit crunch, and ensuing economic downturn have severely damaged the credibility of financial markets, institutions, and traders.

I raise cattle.

There was a big fire last night.

There was a big fire in the store.

The country s largest such crisis, in 2001, brought down the local banking system and caused the Argentine government to default on its debts.

The credit cycle is an amplification mechanism.

Poor s raised its credit rating to investment grade.

Hochiminh City is the largest city in Vietnam.

A large asteroid was responsible for the extinction of the dinosaurs.

There was a big fire in Boston yesterday.

Detroit is the largest city in Michigan.

How can a bond guaranteed in large part by countries such as Italy and Spain (likely candidates for a fiscal crisis) provide AAA status to Irish bonds?

If today s credit crunch has historical parallels, they are closer to nineteenth century normal crises like 1837, 1847, or 1857.

Despite the most severe financial and economic crisis in almost a century, the Finnish national debt actually decreased by 2009, to 39.7 .

Americans don t seem to realize that their sub prime mortgage meltdown has all too much in common with many previous post 1945 banking crises throughout the world.

After all, excessive and chaotic deleveraging by lenders to emerging Europe and the ensuing credit crunch would destabilize this economically and institutionally fragile region.

The credit crunch in the banking system is becoming more severe as banks deleverage by selling assets and rationing credit, exacerbating the downturn.

Argentina exports cows and raw materials

Now the largest economic region in the world.

Fælledparken at is the largest park in Copenhagen.

Tom is as big as I am.

Today we are starting a very big investment project.

The public sector accounts for roughly 80 of the economy, and relies mostly on now plummeting oil revenue, while Iranian banks face a credit crisis, with Mahmoud Bahmani, the governor of the Iran Central Bank, estimating total delinquent payments to be 38 billion.

There seems to be a general recognition of substantial downside risk, as the current credit crisis seems to be related to the decline in US home prices that we have already seen.

The biggest energy crisis of all, it seems, involves the misdirected energy of a US foreign policy built on war rather than scientific discovery and technological progress.

Many remain convinced that China s government which wields with the world s largest foreign exchange reserves and virtually unchecked authority would be able to prevent a major financial crisis.

His reappearance comes just as the credit bubble fueled by the sub prime mortgage boom is about to burst, triggering the worst financial and economic crisis since the Great Depression.

Still, given a severe financial crisis, declining home prices, and a credit crunch, the US is facing its longest and deepest recession in decades, dashing any hope of a soft landing for the rest of the world.

What ensued was the first great international crisis of the post Cold War era, one that, in less than a year, led to the liberation of Kuwait, along with the restoration of its government.