The Collapse of a State: The Rise and Fall of the Albanian Financial Pyramids in 1997 Cover Image

Shembja e një shteti: Shkëlqimi dhe rënia e piramidave financiare shqiptare në 1997
The Collapse of a State: The Rise and Fall of the Albanian Financial Pyramids in 1997

Author(s): Adrian CIVICI
Subject(s): National Economy, Financial Markets
Published by: Shtëpia botuese “UET Press”
Keywords: The Rise and Fall of the Albanian Financial Pyramids in 1997; National economy;

Summary/Abstract: In 1997, the economy, finances and the entire state and Albanian society recognized one of the worst crises of their history. Several hundred or thousands of people who completely lost their money, billions of dollars swallowed by a rentiere firms system of Ponzi- Type, a whole country paralized, and the majority of people in revolt, the army and police were totally destroyed, and millions of guns were in the arms of population, thousands of dead and wounded, without ever being clear who was really “enemy”, thausands of Albanians fled as refugees to Italy, Greece, etc..What seemed to happen to Albania was a real economic, political and social apocalypse. It took the intervention of foreign military forces, mainly Italian, in order to calm the country, and to resume a normal life and activity.

  • Issue Year: 8/2012
  • Issue No: 1
  • Page Range: 60-67
  • Page Count: 8
  • Language: Albanian
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