Oil Crisis (1970s): Oil price shock due to OPEC embargo, stagflation, high unemployment, inflation, energy dependency concerns worldwide.
Russian Financial Crisis (1998): Ruble devaluation, debt default, banking system collapse, economic decline, IMF assistance needed for recovery.
Argentine Economic Crisis (2001): Default on debt, currency devaluation, bank freezes, social unrest, political turmoil, severe economic contraction.
Greek Debt Crisis (2010s): Sovereign debt crisis, austerity measures, high unemployment, economic contraction, bailout negotiations, social unrest.
Asian Financial Crisis (1997): Currency devaluations, stock market crashes, banking sector turmoil, recession across Asia, IMF intervention required.
Venezuelan Crisis (2010s): Hyperinflation, oil dependency, political instability, food and medicine shortages, mass emigration, economic collapse.
Zimbabwe Hyperinflation (2000s): Inflation peaked at 89.7 sextillion percent annually, crippling economy, currency collapse, severe poverty.
Hyperinflation in Weimar Germany (1920s): Money became worthless, economic chaos due to war reparations, leading to social upheaval.
Great Depression (1929): Global stock market crash, mass unemployment, poverty due to banking system collapse, lasted over a decade.
Throughout history, there have been several major economic crises that have had significant impacts on countries and the global economy.