According to Eurostat’s first release, in quarter-on-quarter terms euro area real GDP increased by 0.1%  BIS Review 25/2010  1  in the fourth quarter of 2009, after growing by 0.4% in the third quarter. Available indicators suggest that the economic recovery in the euro area is on track, although it is likely to remain uneven.
The near-collapse of the Long Term Capital Management Fund in New York towards the end of September 1998, provided a stern warning to the world that the East Asian crisis had indeed become a worldwide financial problem.