What Crisis Happened in 2015?

Introduction

In the year 2015, several significant crises unfolded across the globe, capturing the attention of the world. From the European migrant crisis to flash crashes in financial markets, these events had far-reaching consequences and shaped the course of history. In this blog post, we will explore the key crises that occurred in 2015 and their impact on different aspects of society.

The 2015 European Migrant Crisis

One of the most prominent crises of 2015 was the European migrant crisis, also known as the refugee crisis. It was characterized by a significant influx of migrants and refugees into Europe, fleeing conflict, persecution, and economic hardship in their home countries.

The crisis had various causes, including increased conflicts in the Middle East and North Africa, deteriorating living conditions, and lack of economic opportunities in the migrants' countries of origin. This led to a surge in the number of asylum seekers attempting to enter Europe through different means.

The crisis reached its peak in September-November 2015, with a high number of arrivals and a strain on European countries' resources and infrastructure. The EU and individual countries responded with various measures, including the EU-Turkey refugee return agreement and the tightening of asylum laws.

The Two Biggest Flash Crashes of 2015

Financial markets also experienced significant turmoil in 2015, with two major flash crashes occurring during the year. A flash crash is a sudden and severe drop in prices, followed by a rapid recovery.

The first flash crash took place on Monday, August 24, 2015. It was triggered by concerns about China's economic slowdown and its impact on global markets. Stock prices plunged within minutes, causing panic among investors. However, markets stabilized later in the day.

The second flash crash occurred on Wednesday, March 18, 2015. This time, it was caused by a technical glitch in trading systems, leading to a sudden drop in prices. Once again, markets quickly recovered from the crash.

The Yemen Crisis

Another major crisis that unfolded in 2015 was the Yemen crisis. It was marked by ongoing conflict and a humanitarian catastrophe in the country. The conflict, which began in 2014, escalated in 2015 and resulted in widespread displacement and dire humanitarian needs.

Millions of people were forced to leave their homes, seeking safety and assistance. The crisis led to the displacement of over 4.5 million people and left 21.6 million in need of humanitarian aid and protection services.

Year in Review: Was 2015 as Bad as It Seemed?

2015 was a year filled with significant events and challenges. In a year in review, it's important to reflect on the overall impact and draw lessons for the future.

IPI Senior Adviser Francesco Mancini offered four broad lessons from 2015 that can guide the conduct of global diplomacy in the years to come. These lessons emphasize the importance of addressing global challenges collectively and finding solutions that promote peace and stability.

Other Notable Events of 2015

Aside from the aforementioned crises, several other noteworthy events occurred in 2015. These events had a profound impact on different aspects of society and shaped the narrative of the year.

Some of these events included the legalization of gay marriage in several countries, the debate on gun control and its relation to increasing gun deaths, and the global focus on reducing poverty.

Conclusion

The year 2015 was marked by various crises that had significant implications for different parts of the world. From the European migrant crisis to flash crashes in financial markets and the Yemen crisis, these events shaped the narrative of the year and influenced subsequent developments.

As we reflect on the crises of 2015, it's important to learn from the past and work towards building a more inclusive, peaceful, and resilient future.