In the 25 years after the September 11 terrorist attacks, the world economy and that of the European Union spent 60% of the time in slowdown, stagnation or decline. This data highlights a period marked by continuous economic instability.
Energy crises were a determining factor in this trajectory. Although in more recent years they have been aggravated by the wars in Ukraine and Iran, these energy crises have always been part of the world economic landscape.
The biggest shock came, however, from the financial system. Financial instability proved to have a profound impact on global economies.
The biggest economic losses of this millennium for the world economy and the EU were caused by the great international financial crisis of 2008 and 2009, which remains the most devastating episode to date.
