Estamos todos de acuerdo en que ha sido una crisis de liquidez que ha devenido en una crisis de solvencia y ha terminado en una crisis de confianza que ha provocado una restricción de crédito que ha acabado dañando a la economía real.
We all agree that this started as a crisis of liquidity which then became a crisis of solvency and which has ended up as a crisis of confidence, resulting in a lack of credit which has now damaged the real economy.