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Tesseract Open Source OCR Engine (main repository) - tesseract- ocr /tesseract. which included taking stakes in the nations biggest banking players to shore up the nancial system But systemic banking problems were not ring-fenced in the United States Banking systems all over the world were hit but the resulting credit crisis in which banks ceased lending or trading with each other due to bankruptcy fears While Basel II was designed by the G7 and a few of its fellow rich-world cronies, it was adopted by more than 100 countries This explains why US subprime problems reverberated globally, appearing in the most unlikely of places Walter Molano of Columbia University notes that Basel inadvertently was a conduit to expand the US credit crunch to pandemic proportions by allowing the few investment banks that controlled the credit rating agencies to determine the use of the world s savings pool 33 Moreover, both European and EM central banks were also put in the unimaginable position of making liquidity available to their local markets and to support their banks in the wake of this credit freeze Never before has the world witnessed such an internationalized banking crisis Beyond the nancial contagion, the nancial crisis had important economic reverberations With bank lending curtailed and no SIVs to soak up mortgages, the US housing market predictably slowed, and the fallout quickly spread to Europe, Latin America and other regions Molano found that of 15 Latin American economies, for example, 12 showed better than a 90 percent correlation between US housing starts and remittances The results included pressure on their current account balances, dampened domestic consumption, slower GDP growth, and weaker exchange rates as transfers decline The troubled US housing sector would also cool home construction activity in Europe and the Middle East, affecting emerging market countries in North Africa, as well as India, Pakistan, and the Philippines, which relied heavy on remittances As mentioned earlier, the global growth fueled a dramatic increase in cross-border labor remittances: From 1995 to 2007, the UN s International Fund for Agricultural Development notes they grew from $101 billion per annum to approximately $318 billion34 It also had pumped up stock markets globally With the havoc created in the United States and elsewhere, many emerging stock markets (pumped up by growth from record. yunmai ocr sdk: All Wondershare PDFelement OCR Plugin Versions abbyy finereader engine ocr sdk download IRIS Mobile OCR SDK
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