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Unformatted text preview: t seemed to undergo a revolution in 2011. Governments were overthrown in Egypt, Libya, and
Tunisia. Protests and armed conflicts took place,
and in some cases are continuing, in Iran, Afghanistan, Bahrain, Yemen, Algeria, Syria, Jordan, and
Saudi Arabia. Uncertainty in the Middle East and
the global economy in spring 2011 helped push
the West Texas Intermediate oil price from $84.45
a barrel in January to $112.27 in April. By August,
evidence of a slowing global economy helped
lower it to $86.65.
Japan experienced a crippling earthquake and tsunami that killed tens of thousands and displaced
hundreds of thousands. The global supply chain
was disrupted for months.
Greece, Ireland, and Portugal were bailed out of
their fiscal problems by members of the European
Community. The problems in Greece are creating
global market turmoil. Italy is attempting to deal
with its fiscal problems. Spain’s sovereign debt was
downgraded. The ability of the European Community to absorb the collective debt burden is in
doubt. Basel III called for banks to bolster reserves
and capital structure beyond their financial
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This note was uploaded on 02/11/2013 for the course MGMT 231 taught by Professor Yu during the Spring '13 term at Bauder.
- Spring '13
- The Lottery