0 economic conditions that make financial organizations less willing to lend money, often causing serious economic problems
1 economic conditions that make financial organizations less willing to lend money, often causing serious economic problems:
Japan experienced a major credit crunch in the late nineties.
2 the economic situation during 2007-2009, during which there were serious economic problems all over the world relating to financial organizations being unwilling to lend money:
Most politicians agree that the Credit Crunch was originally caused by irresponsible lending by banks.
The credit crunch has led to a sharp fall in the number of home loans.
We can complete it step by step however long the road is and it can't be completed however short the road is if you don't even mark your footprint.