Editorial

Abstract

After more than 18 months of development of the global crisis, new events are emerging during the first weeks of January. Added to the technical bankruptcy of the large banks are the losses in corporations and the general decline in the economic performance of the largest economies, with declines in trade flows and investment. The forecasts have gone down for 2009, and deflationary signs appear daily before the financial authorities. These facts confirm that the rescue measures carried out to date have been insufficient. Thus, at the same time that new episodes of worsening of the crisis will appear, they prolong it, since the devaluation of securities, distrust and financial and economic losses will feed off each other.