A short history of financial crises

The history of capitalism is also a history of financial crises. It begins with the bankruptcy of the Spanish State in 1557, which led to the collapse of many European banks. The first crach stock took place in the 17th century in the Netherlands, where many people had speculated on tulip bulbs. The effect of the crisis on the real economy is generally remained limited, with the exception of 1929, when the stock crach was followed by a global economic crisis.