Finanzkrise & Notleidende Banken

The word Finanzkrise has been used in the past months to describe the state of the World economy.

But generally it is used to refer to any form of crisis in the finance markets.  It is, for example, used to describe the inflation of 1929 but also the situation in the Netherlands in the 1630s.

It was selected by the Gesellschaft für deutsche Sprache to be the “Wort des Jahres” (Word of the Year) in 2008.

Coupled with this is the “Unwort des Jahres” of the same year: Notleidene Banken.

This term is ironically used to talk about the banking situation in 2008, as many banks had to be “rescued” by their relevant national governments.

Previously many banks had been making large profits and even after the crisis were still paying their managers high bonuses, whilst at the same time accepting state help.

To hear a simple explanation and a short discussion in German, listen to the podcast:

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About Graham

Graham Tappenden is a British ex-pat who first came to Germany as a placement student in 1993, returning in 1995 to live there permanently. He has been writing for AllThingsGerman.net since 2006. When not writing blog posts or freelancing for the Oberurseler Woche and other publications he works as a self-employed IT consultant solving computer problems and designing websites. In 2016 he gained German citizenship.

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