This rate of decline is still the third largest in history, following only those recorded on Black Monday in 1987 and after the Lehman Brothers failure in 2008. In the foreign exchange market, amid the yen's appreciation, concerted foreign exchange market intervention was conducted by the authorities of Japan, the United States, the United Kingdom, Canada, and the European Central Bank on March 18.
IV. Initiatives after the Great East Japan Earthquake Over eight years have passed since the Great East Japan Earthquake. Based on lessons from  8  the disaster, initiatives to enhance disaster management have been taken at various levels from Japan's government to individual firms, and are still under way.