Question First of all what is world economic crisis of 2008? Response The world economic crisis of 2008 was a crisis that appeared in 2008 in the way of worsening of the main economic indicators in the countries of the world. Its immediate predecessor was the mortgage crisis in the United States, the first signs of which appeared in 2006 in the form of reduction in the number of house sales, so there was a high mortgage defaults by mortgage buyers, in early 2007 became a subprime mortgage crisis. Slowly the mortgage crisis started transforming into a financial crisis and started affecting not only the United States. The credit crisis became global and covered many countries including the UK, Germany, France, Australia, India, Russia and other markets. By early 2008, the crisis became global and gradually began to emerge in the wide decreases in production volumes, decreasing demand for raw materials, falling of commodity prices and rising unemployment. In this paper the reasons and the results of such economic collapse will be shown, explained and also will be analyzed. Firstly, it will be explained how the economic crisis does affects the world economy, how this crisis became global and the factors of appearing of global economic crisis also will be discussed, after it the reasons of this crisis will be analyzed and what measures countries have been applying to deal with this crisis. The Global economic crisis it is crisis which covered all the countries of the world, it can be divided in three main stages. Firstly, the factors of appearing of the global economic crisis are overheating of the credit market and which was the result of the mortgage crisis, overheating of the commodity market and failure of the stock market what resulted to the bankruptcy of mortgage companies, banks and hedge funds, lowering of the living standards mostly in middle class population and people with low incomes, mass job cuts and higher rising prices for the commodities. And the first stage of the global crisis started from July 2007 to August 2008. At that period of time the mortgage crisis started appearing in United States and writing off of bad debts was gradually contributing to the bankruptcy of banks. At the period of these 13 months from July 2007 till August 2008, the world financial system had losses in the amount of $800 billion. The second stage of the global crisis was the liquidity crisis. United States mortgage crisis of 2007 leaded to the liquidity crisis of global banks in September 2008 as the result banks stopped lending, in particular auto loans have been stopped. As a result sales of automakers started falling down. After this three giant auto companies Opel, Daimler and Ford started their production cuts in Germany. The crisis started to spread to the real economy, the recession began, as it led to production rate falling. The LIBOR-OIS spread at the end of September 2008 fo