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Policy makers and economists have warned that the economy is in for a rough ride over the next few months as the credit crisis hurts businesses and consumer demand.
For that reason, the current crisis hurts Iran's democratic reform movement and strengthens the hand of Ayatollah Ali Khamenei, Iran's spiritual leader (who wields more power than the elected president) and the conservative clerics behind him.
"The crisis hurts everybody, but a brotherhood is self-financed, has never depended on subsidies and simply spends what it can collect," said Gerardo Díaz, a member of another brotherhood, who also handles public finances as treasurer of the Olivares town hall.
Economic crisis hurts children The global economic crisis is having a serious impact on CAR.
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So, is the global crisis hurting?
Europe has posed a particular challenge for Groupon, with the debt crisis hurting demand.
A deep economic crisis hurt Ms Tymoshenko as a prime minister.
They say mismanagement of the economy and failure to tackle the country's energy crisis hurt Mr Zardari's popularity.
The economic crisis hurt Deutsche Bahn's business, with revenue declining 14 percent in the first half of last year, pushing the company to seek growth in new markets.
Timothy F. Geithner, the United States Treasury secretary, told an audience Friday that the European sovereign debt crisis hurt the United States economy last year when it caused a plunge in stock prices but that the effect was short-lived.
More recently, development has slowed after the global financial crisis hurt the South's export-driven economy and new tensions with the North have scared away some prospective buyers.
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