There has been nothing like it in the history of Europe. The governments in many countries have spent billions of euro to help the banks function again.

That is more money than our politicians normally spend on schools, roads or hospitals. It is a lot of money but most people say that it is worth it.
At the moment all the banks are holding on to their money and not lending it; even to other banks. Banks used to help each other but those days are over because the banks do not trust each other. That means that the banks are working properly and when the banks aren’t working the economy does not work. Firms and companies cannot get money to produce goods and they have to fire their workers, so that many families have no income. They can’t go on holiday, buy a new car or even give you pocket money. To prevent this happening the state is trying to rescue the banks and make sure that everything functions as normal again. but we must hope that the banks can soon pay the money back to the government and tax payers.

Here are a few money saving ideas that everyone can put in place:
Don’t go to a gym, practise sports with other people in the open air.
Don't use your credit cards if at all possible. Pay cash and use credit cards only for onvenience or emergencies.
Don't have more than $25 in your wallet at any time so you are not tempted to buy on impulse. If you have to think about going a long way to find an ATM machine you will probably lose the desire to buy.
Take your lunch to work rather than going to cafés or food halls.
If you are going to the supermarket make sure you have a list and try and stick to it.
If you can pay your mortgage every fortnight rather than every month then you can save yourself a lot.
Don't buy expensive clothes for children. They will outgrow the clothes quickly and you would have purchased them at a high price.
If you smoke, give up. The damage to your health is reason enough but also the damage to your wallet.
Don't buy at the end of the year, wait for the new years sales.
Don't always buy brand items. Sometimes cheaper brands are just as good and much cheaper.
Save money on your heating and cooling costs by keeping doors and windows closed. Turn your thermostat down.

According to the expert of economy the profesor José Luis Rivero

"In the second half of 2009, the economic crisis will cause a major social problem in the Canary islands


The professor of Applied Economics at the University of La Laguna (ULL), Jose Luis Rivero Ceballos, announced Friday that the second half of 2009 the economic crisis will cause a social problem in the Canaries since a high percentage of people . Today is unemployment.
He explained that the unemployment rate has risen nowdays as much faster than increased in the 1989-1993 period in which they reached a rate of 28.7 per cent, whereit is now already 16 per cent.