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Abyssinia Crisis. The Abyssinia Crisis was a crisis in 1935 originating in the so-called Walwal incident in the then ongoing conflict between the Kingdom of Italy and the Empire of Ethiopia (then commonly known as Abyssinia in Europe). The League of Nations ruled against Italy and voted for economic sanctions, but they were not fully applied.
The financial crisis of 2007â08, also known as the Global Financial Crisis and 2008 financial crisis, is considered by many economists to have been the worst financial crisis since the Great Depression of the 1930s.he active phase of the crisis, which manifested as a liquidity crisis, can be dated from August 9, 2007, when BNP Paribas terminated withdrawals from three hedge funds citing a complete evaporation of liquidity.