Advertiser Commonwealth Bank
Author Rob Chandler, Alex Caredes and Prue Walker
Total Campaign Expenditure Under $500k
WITH THE WORLD IN CRISIS, WHO'S REALLY LISTENING?
Global Financial Crisis (GFC), economic meltdown, whatever you called it, there was one undisputable fact – in the autumn of 2009, the financial world as we knew it was confronted with significant and unpredictable upheaval that had the potential to push our economy into recession. People were nervous, consumer confidence was low and business confidence had fallen to an all-time low with 81% of businesses predicting a weak or very weak 12 months ahead (Commonwealth Bank ACCI Business Expectations Survey May 08). We were spiralling into global recession the likes of which hadn't been seen for a generation.
In response, 2008/9 was a time of unprecedented cooperation among global powers and economists, who met repeatedly to discuss and agree upon an action plan. But as the true extent of the crisis unfolded, fear and confusion only grew.