Minister of finances: the present economic crisis is more serious than the Great Crash of 1929

The present economic crisis is more serious than the Great Crash of 1929 stated on Friday night the minister of finances Florin Citu at B1TV. ‘We are experiencing the most difficult period for the economy over the last one hundred years. Firstly, there has never been a double crisis, a health one and an economic one. It is worse than the economic crisis of 1929. It is worse than during the Great Crash of 1929’ stated Florin Citu.

Similarly, the minister of finances considered that the present economic  crisis is the biggest crisis recorded during peace time ‘ You should know that during peace time the economy has never stopped as it happened now, never the companies stopped as it happened now. We are talking about peace time, peace time with the biggest crisis’ Florin Citu added.

The Great Crash on Wall Street in the autum of 1929 is considered the main cause for the Great Depression of 1929 – 1933 which led, among others, to a massive growth of unemployment in the US and Europe.

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