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German economy records biggest contraction in 60 years | | Jan 16 |
The German economy posted its biggest contraction since the Second World War last year as the global financial crisis engulfed Europe's economic powerhouse, the nation's statistics office said on Wednesday.
Europe's largest economy shrank by 5 per cent last year in the wake of a plunge in both exports and investment after the implosion of the US investment bank Lehman Brothers in September 2008 sent the world economy into a tailspin.
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Poker and the Financial Crisis
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The financial crisis hitting the world has caused many people to be worried about the future. Jobs are scarcer, incomes are lower and investments are, for some, entirely wiped out. Where does all this financial doom and gloom leave the world of poker?
The Financial Crisis and Big Live Events
If last year's World Series of Poker is any indication, poker players have a fair amount of insulation against the economic crash. The 2008 World Series of Poker main event saw 6,844 players satellite in or put up the $10,000 entry fee, resulting in the second largest main event field of all time, and a first place prize of over nine million dollars.
In addition, World Series of Poker spinoffs, such as the World Series of Poker Circuit Tournaments and the World Series of Poker Europe, are seeing plenty of success, with full table after full table for every event. Poker is still going strong in other parts of the world as well, on the European Poker Tour, in Macau poker tournaments and on the Asian Poker Tour.
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