2023 Financial Crisis (Annwynn)

The 2023 Financial Crisis is an emergent and ongoing economic crisis centered in the global financial centers of Southern and Central Omand. The 2023 Crisis is widely recognized as the first global recession by a variety of international business and financial think tanks and institutions since the conclusion of the Omandan Continental War in 1994. The crisis is widely believed to have been triggered by a combination of governmental development loan defaults in Oltenia, Skalité, Ardeal, Wallachia, as well as reduced payments from Krasno and Aesti following the outbreak of the (CIO War name goes here). Other contributing factors include economic disruption and market confidence loss as a result of (Notreceau/Luminerra war name goes here), the ongoing insurgency in Costa Mejis and general downturns in global demand for finished industrial products that constitute the backbone of Southern Omandan economies.

While the majority of governmental bodies have defined the crisis as a conflict-driven recession, independent economic bodies and economists have pointed to a multitude of other contributing causes including the failure of the development loans to generate significant return to lenders, the looming Notreceauen housing bubble and the Lumenic financial short scheme among others. Entinist centric critiques have focused on the predatory nature of private and governmental loans destabilizing central-Omand as well, although this position is not generally supported by financial thinkers and institutions outside of Abrahar, Maratha and Copperhead. [Further information about government responses will go here].