Abstract. The world economy is under recession. The strong financial turbulences, the collapses of the main stock exchanges with global extension, the global real estate crises and alimentary problems represent the signs of a fundamental correction within the global economy. How did the global financial crisis appear? Are USA capable of minimizing the negative effects of the recession are facing with? How will the world financial crisis manifest in Romania? Which are the solutions to prevent the extension of the financial turbulences in Romania? These are the questions to which we are trying to give an answer within this work.

Keywords: global financial crisis; contagion; globalization; speculative attacks; external vulnerability.