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The Financial Crisis and Its Consequences on the German Financial System

In: Business and Management

Submitted By turmenel
Words 10204
Pages 41
1 EGC Montauban Business School Bachelor degree

THESIS

THE FINANCIAL CRISIS AND ITS
CONSEQUENCES ON THE GERMAN FINANCIAL SYSTEM

Thesis presented by Florian DAVID Promotion Mulliez florian.david@egc-montauban.fr

The 10th August 2009

2

Figures....................................................................................................................... 3 Introduction............................................................................................................... 4 1. The roots of the crisis ....................................................................................... 6 1.1 Macroeconomic situation.............................................................................. 7 1.2 The behaviour of the involved actors............................................................ 8 1.2.1 The approach of the borrowers ............................................................. 8 1.2.2 Banks and financial institutions ............................................................. 9 1.2.2.1 A new way to grant credits ............................................................. 9 1.2.2.2 A new way to earn money............................................................ 10 1.2.2.3 The emergence of new risks ........................................................ 10 1.2.3 Rating agencies .................................................................................. 11 1.2.4 Internal Audit ....................................................................................... 12 1.2.5 External audit ...................................................................................... 12 1.2.6 The investors....................................................................................... 13 1.3 The impact of technological innovations..................................................... 14 1.4 Accounting...

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