With the Start of the Subprime Financial Crisis in August

question 80

Essay

With the start of the subprime financial crisis in August 2007, the dollar began an accelerated decline in value, falling by 9% against the euro. At that point, the financial crisis appeared to be a U.S. problem. However, by mid-2008, the crisis spread to Europe. Discuss the reaction of the dollar to actions taken by European central banks in late 2008 to deal with the widening financial crisis.

---

Definitions:

Art Historians

Scholars who study and analyze artworks, focusing on their historical context, meanings, and aesthetics to better understand the cultures and societies that produced them.

Chokwe People

An ethnic group in Central and Southern Africa known for their art, particularly masks and wood carvings, which play a significant role in their cultural rituals.

Mythological Figure

A character that originates from myths, which are traditional stories rooted in a culture's spiritual or religious beliefs, often explaining natural phenomena or human behavior.

West-Central Africa

A geographic region in Africa that includes countries like Angola, Congo, and Cameroon, known for its rich cultural heritage and diverse ethnic groups.