six guys are financial survival. customers go by there are just a fire. in elf well reduce a flower. that's undercutting what's good for market it's not good for the global economy. here's how it started with us households thinking ever deeper into debt encouraged by the government and the banks to take out mortgages even those who did not have the means to do so. until the day the bubble burst this is been

a historic sunday as to this hour the lehman brothers investment bank appears headed toward bankruptcy in two thousand and eight the poorest homeowners unable to meet their mortgage repayments began to massively sell off their properties the real estate market collapsed and along with it the banks who become embroiled in these subprime loans. on september fifteenth two thousand and eight the death of lehman brothers the fourth largest u.s. investment bank not the beginning of a huge financial and economic crisis that would spread worldwide. the likes of it had not been seen since the great depression of the thirty's a wave of corporate bankruptcy was followed with considerable loss of jobs. to people blame the bankers like here in iceland eighty percent of the banking system collapsed and even more so in greece where the state teetered on the brink of bankruptcy. with the crisis of public debt

skyrocketed as did household overindebtedness a veritable scourge that would affect one person in twenty in europe especially in the u.k. . five years ago me and my husband split up. i actually kicks my husband out and miss out a big impact on my children so i think i found out the time there and i had a lot of making up to do to them and at the time i thought that the way i needed to make up to them was financially so i would just throw money at them and christmases i would go ridiculous spend ridiculous amounts of money like thousands of pounds on stuff they didn't need and work like they'd probably play with once then go in the wardrobe so i straight away if i was stuck ten i did it i took out a loan but then one loan was not enough so i had to pay that loan back then i took another loan to pay the loan back and hold the star game bigger and the star get bigger and it was spiralling out of control. like

many other british people sharon fell into the trap of easy credit with online catalogues where with a simple click one can buy all kinds of products on credit often with annual interest rates of up to thirty percent. it was so we say it was so easy to go online and go yeah my name or address my details yeah thank you very much money's in your account so i made them made it too easy for me to get into there. as for philip he took out loans to supplement his meager pension but he went under when the government abolished his council tax exoneration for the elderly. whether i do or didn't prove very well the koori all of marie curie. all rushed through. or no wouldn't our group. because our god had got so. to

get built up so much that scared me so much. i didn't know what to do. i'd lost complete national company or were. going to actually do work out he was somebody looking for money. or down to earth found. it was one of the clubs that are still from pride that i had and pride in that that my you know the bankers were helped by the government the banks got into trouble and all the big bankers got big pay i saw and i was ink on the government by the banks but i started think of the ordinary the ordinary men and women that. lost money so as a bank and so because the bank the banks have been out of the government.

the infrastructure for the proof of the contrary to all but disappeared and you know there were a lot of cuts. i'll just find to make my underwear. because it's changed yeah all the figures in front of me all right thank. you. yes you want to speak to us that's right let me let me just kind of thing up here for you sharon regained hope thanks to the advisors of step change the u.k.'s largest debt charity which specializes in debt problems in two thousand and fifteen they advised on average over one thousand five hundred people a day because in the u.k. the price of economic recovery has been very liberal austerity measures the driving down of wages and drastic cuts in social welfare. the definition of problem is not straightforward our government defines it as anybody who has been at least

three months behind their debts in the last six months and that's eight point eight million people in the u.k. bad things can happen you know you become ill you lose your job your relationship breaks down here become a casualty most important in most circumstances is you could help to get back on your feet because the cost to wider society of people being in debt are huge over half the people who come to us have had to go and see their doctor about mental health or other issues just to give you certain general impulse buy sometimes with the enforcement. they do need to me peaceful and healthy into sound because what they'll do them to do is to control did. so i know you know that it takes to keep the door shut trying to gain an interest. at the time i felt like it was just may and i would else was financially following and it was

only me. that was suffering. sorry. i thought i was the only one. that was actually having to do with living like this and living with the fear of losing my head a milly's not upset being homeless with my children having my children taken away from aches i couldn't look after them properly. by way of a strange paradox people who are deeply in debt feel terribly alone and yet they are increasingly numerous. in france over one person in ten minutes suffering from financial difficulties like dominic who is made redundant three years ago in strasburg. he has resolved to go and see the creases association whose initials ironically stand for. regional chamber for social overindebted this

has become a mainstay of social assistance for those who find themselves in a financial data twenty five associations in france six hundred voluntary staff who would like step change still engage in face to face interviews the leak. if you want to. let go thank you for the long walk into the future. of the. thought of innocence i wanted to move through it was a joke. no. less interest royally that exists in some. of the three most holy thing. all the things. that cause. critical so much from so far. that's.

the other of him for you in this race it is. solvent so intrigued proceed. to be more. gallant to get the whole. couldn't walk on home. video. there for me it was the. wrong. place wrong. it's interesting this is.

what it was and it was. put off as or who. the voluntary advisors are often former bankers who now retired have decided to change sides as it were their kind of repentance here the volunteers share their past expertise like the chairman of cases strasburg. a former lawyer a voluntary advisor for ten years and a tireless militant in the fight against overindebtedness. last. the. day the don't worry i started to. kick.

the muscle. and low on the whole court to show. he he did this start. the. signal to. reduce it. but it lost in the chaos the lists must go into typically are still today on a sidenote. she. could pull up monks. chaos. no. sick it could do for. the.

body because all of us are soaked. to say. the unique model scented that the sea sick of any dish you. know now york. city police on point zero cost. us and you don't call my lazy i don't know small i feel called hot babe from new york city can see. the day on. your local. pub was about the old if you contin fell me buddies you would expect get up a good necessary. call segues a cigar of all that. supper table so why do you hate me said i would call names all said you've got to go to name that. supplies somebody's got to want

it up simply miki all they. say we could if i didn't. gibson it's a crown on us and have sensed if i want you to prefer to school no chimp and use. that amount of time in a female. your credit to literacy so that you could look at the hurt increasing. bullcrap turn that little bit of their own. to louis and see if there's anything you. can. see here. in iceland where

the two thousand a crisis really hit hard fanny whose house was repossessed is now desperately looking for a new home. her debts had reached such a level that the government measures to reduce household indebtedness were insufficient to help her she's been taken in by her sister. everybody i'm stephen bob. taft hollywood guy you know suspect every proud american first of all i'm just george washington and r.v. to suggest this is my buddy max famous financial guru and well just

a little bit different i bought a. new windows up with all the drama happening in our country i'm shooting the road have some fun every day americans. look for the start to bridge the gap this is the grid. american people which. was. why. i was.

like many of the inhabitants of this little volcanic island in the north of europe fanny thunder self overindebted despite having made no mistakes because here most mortgages are consumer price index yet due to the crisis and the fifty percent devaluation of the icelandic currency inflation soared. as a result mortgage repayments suddenly doubled and many icelanders found themselves drowning in debt. pyramid the labeling that in one day. along i'm home alone are. going to get most horses it. would have been after school the first. hour or. two from to london. with

a woman it was on the market hike up along with. like others of us to a good job. i mean most experts were talking to us. him. here. when spread liberty you wanna. look at the box. in the millions put it to. her think it will only. toss eisemann a police escort. after q. book at the bar through the hole in the roof and with the throne millionaires turned up in do you. think.

you come off the millionaire but early zero zero zero s. america many i miss you but i'm bored. solomon ya acted like. there was nothing to process. apartment after the sell off your clothes and after several million if. as long as a person can pay off their loans they were given the red carpet treatment everywhere but once that person can no longer meet their repayments things get more complicated today most consumer credit companies have been acquired by major banks such as to thank. my credit. whose debt collection agency i'm very eager to stay in touch with our clients use even in trying to. get them used to nicholas and if you

don't think you should find. something. else feel. well. i think you can. so the budget the chalky they don't want to work against a vulture. look at the. sales he is so. what do you do with this you'll. only do that that and them all to see all. the usual. daily fun and keep this show on they take it as it was it made them an all star no money member we me it was it was. a was a week of it was invert they'll see where you. like let me spend said explain

not. to trust one critter. smaller. to know i. do trust. clearly through. the film. was a big simple something i need to. be. clear she to see could she do to know the strain create the suppressor and once you want it. in the autumn of two thousand and eleven americans took to the streets to

protest against the greed and cynicism of their banks. selling toxic subprime loans . that if they got into trouble the state would step in to eventually bail them out because given their financial clout. the whole system would collapse if they were to go under there were simply too big to fail. one of the leading figures in the occupy wall street movement is the american anthropologist david graber a specialist in the history of debt and one of the inventors of the slogan we are the ninety nine percent of those who own less than the richest one percent there was about a period of three or four months after two thousand and eight where people. were

all saying you know what is dead anyway what is money what do we have the system is through why is find it so important is this even capitalism to even want capitalism fall open you know all questions seem to be open because everything we decide turned out to be wrong centrally for thirty years they've been. saying well you know capitalism might not be a very pleasant system but it's much better these people who are running the system might not be very nice people but they're really smart and they're the only thing that works and there's you know they know they understand what they're doing you don't just shut up and leave it to the experts and it turns out all these people who are supposed to trust their expertise were either complete idiots or scam artists or both how they could imagine it would lead to anything else is beyond. what would it be.

united. in spain widespread evictions by the banks of over indebted families gave birth to a vast civic resistance movement in two thousand and nine and barcelona outraged militants set up the ph platform for victims which currently comprises two hundred fifty neighborhood associations across the country. you to be among those that. helped us and organise better their. lives. he said the officials there each. and. in those. means that i think is emotionally he said. yes if you cynthia.

i. don't see. that said he. was. but i guess i think i mean. there are people those things because it made me and if we imagine there's too much maybe mrs miller is a better and honest eloquence and you must that is with as much on me an email if you match can say mr wilson there's made. us know in. the your understand there man that the main objective was to reform spanish mortgage lending laws according to which when a bank repossesses a property the outstanding debt is not automatically cancelled with the bursting of the property bubble and the plummeting house prices many families found themselves up to their eyes in debt even after having sold their homes. in madrid the

ruling conservative people's party plucked the reform but in barcelona on july twenty ninth two thousand and fifteen it was unanimously ratified by the catalan powers i thank you for your latest las. but i guess i mean yes is. a lot about i was this out there yes any particular like you live. in the south yeah. when they. look anything. like let. me start. you out there is the end of me. so local. interests and i mean.

me. in twenty. where's the interest of either as a lot of them as in the orbit of mars into stuff other. companies be saw and their warm amalia and those muses and they'll tell a specialist our inquiry seymour's they were not there he remarks doing by the. was completed piece was to pull together hinders them going to a million little. star me as. a second bring what was interesting with them in their will they will go in there is the end of. the thing when daniel is needles you're in no way on us infallible and they pay

sawdust into. the capital i mean this is and i'm a little less than see the little in that is. that this is a way to get our personal debt. in a silo is how you are going to run a the law and if they. this situation is particularly worrying in the northern european countries in sweden norway finland and especially here in denmark where the rate of household debt is currently the highest in europe three hundred percent of disposable income double that of the u.k. triple battlefronts or germany over the past twenty years the danes have gotten massively indebted encouraged by governments who've made access to credit very easy .

just black sit on i discovered about the struggle of the cuts that was a moment where isis tots body looked like it was about to be destroyed and as someone who put themselves on a kiss here are some people struggling for on a quest idealogy if i didn't somebody with the skill with the ability to go and help those people in the existential struggle in a moment of need then my whole life i'd not be a hypocrite to. apply for many flips over the years so i know the guy even so i got. the passion from the fans it's the age of the super manager billionaire owners and spending two to twenty million flyer. it's an experience like nothing else on

a because i want to share what i think of what i know about the beautiful guy great so will transfer. the case it's going to. not. to. make. a. claim to know. that. you speak french. let's.

have a close. eye. on the week's top stories from our. second week in the wake of from his decision to recognize jerusalem as israel's capital clashes between palestinians and israeli police caused death. of russian troops from syria during a surprise visit chiefs declare isis in the country. and human rights. and exploitation of migrants trying to reach europe.