THE EFFECTS OF THE INTERNATIONAL FINANCIAL CRISIS AND THE GOVERNMENT'S INTERVENTIONS

The stock exchanges have a great role in the efficient function of the financial system of the country because they represent the mechanism for properly direction of savings and for stimulating the investment that, in matter of fact, represent the base for the greater economic development. The events on the stock exchange are one of the basic factors for set up the scenes and for transmission of the actual financial crisis all around the world. The actual financial crisis that escalated as a result of the "mortgage-crisis" in the USA spread very quickly in the countries all over the world and caused problems not only in the financial sector, but in the real sector in different countries. The aim and the purpose of this paper is to represent the situation of the global financial market at the moment and to analyze to which degree the Macedonian financial market is vulnerable to these external financial shocks.