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Comparison of the economic crisis in France and Great Britain (2009)

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September 15, 2008, Lehman Brothers Holdings collapsed. Its total debt amounted to 613 billion dollars. The New York stock market was in turmoil, and many financial institutions in the U.S. banking system were affected. The largest world powers were also affected. France and Britain got together and formed parties of its own.Investors, households feared, wondered about the future. This was just the beginning of anxiety. Governments and financial institutions found solutions and reassurance.

But when was really? Are there origins of this crisis? What about the consequences? Firstly Scotland will be presented, then the origins of the crisis will be explained and finally the effects of it on the economy and consumer behavior will be compared. Scotland is part of one of the four nations that make up the United Kingdom of Great Britain and Northern Ireland. Occupying the north of Britain, it consists of a set of islands: Hebrides, Orkney, Shetland, etc. Its capital, Edinburgh is the financial and administrative centre, but the largest city is Glasgow, which are historically the city's most industrial countries.

Other major cities are Dundee, Aberdeen, Stirling and Perth. Scotland is bordered to the north by the Atlantic Ocean to the east by the North Sea, south-east England, south-west and west by the North Channel and the Atlantic Ocean. Covering an area of 78,789 square kilometres (roughly half of the island of Great Britain and a third of UK), Scotland is divided into three regions: the Highlands in the north (Highlands North), Lowlands (Lowlands Centre) and the Southern Uplands (southern plateau). The Highlands is a region of mountains and lakes. Generally, Scotland is experiencing a humid climate with abundant rainfall almost everywhere (the average rainfall is 1270mm per year) and temperatures that rarely exceed 20 to 22 in summer.

These data determine the particular characteristics of Scottish agriculture. The history of Scotland begins around 14,000 years ago, when humans first began to populate what is now Scotland after the end of the glaciations, the last ice age. Ages of stone, bronze and iron was found, but few showed signs of writing. The written history of Scotland begins with the arrival of the Roman: Empire in Britain. They have occupied the territories of England and Wales, administering it as a Roman province called Britain. To the north lay the territory not governed by the Romans Caledonia populated by the Picts.

From a historical point of view, Scotland seemed a peripheral country advanced from the margins of the Mediterranean world. However, more historical knowledge of this region accumulate, the more we find that some developments were earlier and more advanced than previously thought, and waterways have played an important role in Scottish history. Due to the geographical orientation of Scotland and its strong dependence on maritime trade routes, the kingdom held close links in the south and east with the Baltic countries, and through the Ireland, France and the continent of Europe. The long conflict between Scotland and England, its powerful southern neighbour, is the cause of the wars of Scottish independence that forced the country to establish trade links, cultural and often strategic alliances with a number of European powers.

Tags: Lehman Brothers Holdings, Roman province, Romans Caledonia, Scottish history.

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