# Global financial crisis reaches France (2008)

URL: https://history-france.com/timeline/2008-global-financial-crisis-reaches-france
Location: France

Banking stress, recession and emergency measures affected the French economy. Within the broader Fifth Republic period, The 1958 Constitution created a stronger presidency and a durable Fifth Republic. Decolonization, European integration, social change, economic shocks and recurring debates over identity, secularism and the role of the state have shaped contemporary France. At this point in the timeline, the relevant governing authority is Nicolas Sarkozy (President of the French Republic). Global financial crisis reaches France mattered because it changed material life, state capacity, economic networks or France’s ability to project power. The event is positioned here so visitors can read it alongside changes in government, warfare, society, religion, culture and France’s wider international setting.

## Why it matters
Global financial crisis reaches France mattered because it changed material life, state capacity, economic networks or France’s ability to project power.

Ruler at the time: [Nicolas Sarkozy](https://history-france.com/rulers/nicolas-sarkozy)

## Sources
- [Wikipedia topic lookup — Global financial crisis reaches France](https://en.wikipedia.org/wiki/Special:Search?search=Global+financial+crisis+reaches+France&go=Go)
- [Encyclopaedia Britannica topic lookup — Global financial crisis reaches France](https://www.britannica.com/search?query=Global+financial+crisis+reaches+France)
- [Élysée — Institutions of the Fifth Republic](https://www.elysee.fr/en/french-presidency/the-institutions)