For many years it has been believed that financial crises are a prerogative of developing countries which are believed to be more vulnerable than developed countries. However, this notion was overturned during the 2007-2008 financial crisis that affected the “big” countries of the world. From this experience, it is clear that all countries are at risk of experiencing a financial crisis, regardless of the policies in place. However, what it postpones is the approach towards stopping the crisis. In developing countries the effect of the financial crisis persists while in developed countries it only lasts for a while as they are quick to design and implement new financial policies that immediately counteract the crisis. It is notable that even after these developing countries adopt counterpolicies, the results do not come as quickly as one might expect, so the recovery process can be considered weak. The delay in recovery can be attributed to the negligence of politicians in these countries who tend to underestimate the intensity of the crisis. Government debts were one of the most common ways to address the financial crisis. For example, several European countries turned the financial crisis into a sovereign debt crisis. The crisis arises from politicians' belief that stability can be achieved through alternative policies to the standard tools used by developing nations. Such common approaches include higher inflation, debt restructuring, significant financial repression and capital controls. The world's superpowers think that doing so is tantamount to giving up their credibility, thus making the situation worse instead of seeking the necessary immediate solutions. As a result, the state of life worsens and the citizens... middle of paper... the financial crisis is discouraging. With the growing need for programs to support the elderly it is clear that there is a desperate need for restructuring. Many advanced countries would not tolerate the fact that their public debt exceeds 90% of GDP, especially before the severe financial crisis. Why then should the negative impact of the financial crisis be ignored? As governments strive to ensure economic growth, they should also understand the economic impacts related to public debt to avoid its regressive elements. Policymakers should consider the impact of the financial crisis on rural farmers, whose lives are put at risk. For citizens of such low status, the financial crisis, preventable through better policies, means a mediocre standard of living and an indirect denial of their basic rights to food, clothing and shelter..