The global financial crisis can be divided into several stages: From August 2008 to the bankruptcy
of Lehman Brothers in September 2008 was the U.S. sub-prime mortgage crisis; after September 2008 it became the international financial crisis; and as of October 2009 when Greek sovereign debt crisis broke out, the crisis became a sovereign debt crisis. The question is: Is the European currency crisis now in a new stage? And what comes next?