Reaction of several European countries to the Financial Crisis

My bachelor thesis consists of three main parts. First part is focused on the origins of Financial Crisis containing facts that have had a long run affect (CRA, government/ FED initiatives, securitisation, Basel I, Basel II), certain economical factors (low inflation, low interest rates between 2001 and 2004, providing and supporting subprime mortgages) that had a great importance in addition. The result is the analysis of individual impacts on the situation in 2006 (bursting the housing bubble). Second part analyzes the reaction of European economy and deals with Czech and German actions that have been taken by governments in order to lower the financial/ economical crises' impacts. Although both countries have significantly different economical structures, there were several steps that have several features in common (e.g. expansionary political actions). Last section deals with a possible correlation of financial crises and strengthening of European integration. European Union as an economical and political integration has provided an excellent opportunity to observe the (un)unified attitude towards global financial crisis. A great example would be inventing government guarantees for loans that commercial banks sold customers. This action has been taken in several countries only in order to avoid an outflow of capital from the country