Final answer:
Several countries, including Greece, have enacted austerity measures due to shocks in the global economy caused by foreign lenders stopping funds. The COVID-19 pandemic and war in Ukraine have also impacted various aspects of the global economy. Banking has become a central issue, with the United States facing challenges from foreign currencies and digital currencies.
Step-by-step explanation:
In recent years, several countries in the global economy, including Ireland, Iceland, and Greece, have experienced severe shocks when foreign lenders decided to stop extending funds. These shocks caused these countries to enact austerity measures, such as large decreases in government spending and tax increases, to reduce their deficits. Greece, in particular, faced protests throughout the country as a result of these measures.
Furthermore, the COVID-19 pandemic and the war in Ukraine have had a negative impact on the global economy. This has affected various aspects such as production, distribution, availability of raw materials, and research and development. The supply chain of raw materials and produced goods, availability of labor, banking and credit, and realignment of global companies have all been affected.
The issue of banking has also become prominent in 2023, as the global economy experiences a downward turn. The United States, as the world's leading consumer, plays a significant role in the global economy. However, it is currently being challenged by foreign currencies like the Chinese yuan and digital currencies such as Bitcoins. The drop in bank stocks and the rise in fuel prices have further contributed to the strain on the global economy.