The Real Estate Financial Complex in the Netherlands and Belgium KU Leuven
During the credit crunch in 2007 the global financial system was close to a meltdown, setting in motion a wave of state rescues of domestic financial institutions. The credit crunch also revealed that the deep motivation of financial actors to liquify illiquid activities and assets (such as real estate) in order to further enlarge the financial sphere can be extremely destructive. The Netherlands and Belgium (i.e., the Low Countries), where ...