By:Taylor Johnson
There has been a economic crisis in Europe ever since 2008 and it affects on sports management are significantly impacted. With this crisis they have to make changes to the public funding. This increases pressure European sports organisation to produce high quality serves.
The global financial crisis and consequent economic downturn is widely agreed to be a result of actions in the United States of America. The Financial Crisis Inquiry Commission, reputedly the most exhaustive analysis of the economic downturn, concluded that the crisis was caused by an over accumulation of investments in mortgage-backed securities based on valuations of high-risk mortgages that were either poorly or fraudulently administered. This ultimately led to borrower defaults, which led to bank defaults and the housing and stock markets to crash. In 2008, almost 9 million USA home owners’ properties were in negative equity. As home owners continued to default on their loans, the value of mortgage-backed securities plummeted. Many of these mortgage-backed securities were sold in Europe, which resulted in the crisis rapidly migrating from the USA to European banks.
https://www.tandfonline.com/doi/pdf/10.1080/16184742.2016.1257552?needAccess=true
Global Sport Issues 