The Declaration on the Rights of Indigenous Peoples is adopted by the United Nations General Assembly.

The United Nations Declaration on the Rights of Indigenous Peoples (UNDRIP) is a landmark international instrument that establishes a universal framework of minimum standards for the survival, dignity, well-being, and rights of Indigenous peoples. It was adopted by the UN General Assembly on September 13, 2007, after decades of negotiation and advocacy by Indigenous groups and human rights organizations.

Self-determination: Indigenous peoples have the right to freely determine their political status and pursue their economic, social, and cultural development.
Cultural Rights: It emphasizes the right to maintain and strengthen their distinct political, legal, economic, social, and cultural institutions while retaining their customs, traditions, and languages.
Land and Resources: Indigenous peoples have the right to their traditional lands, territories, and resources, including protection from forced displacement. This also covers the right to give or withhold consent for projects affecting their lands (Free, Prior, and Informed Consent – FPIC).
Non-discrimination: The declaration affirms that Indigenous peoples should not be subject to discrimination in any form.
Participation: Indigenous peoples have the right to participate in decision-making on matters that would affect their rights, and to develop their own institutions.
Protection of Indigenous Knowledge: The declaration protects Indigenous intellectual property, including their traditional knowledge, cultural expressions, and heritage.

Although the declaration is non-binding, meaning it does not create legal obligations for states, it represents a significant moral and political commitment by governments to respect the rights of Indigenous peoples. Many nations have incorporated aspects of the declaration into domestic policies, and it has influenced international law, even if not universally enforced.

The declaration was initially met with resistance from some countries, including the United States, Canada, New Zealand, and Australia, but they later endorsed it, acknowledging its importance in promoting Indigenous rights.

Financial crisis of 2007–2008: The Northern Rock bank experiences the first bank run in the United Kingdom in 150 years.

The Financial Crisis of 2007–2008, often referred to simply as the “Global Financial Crisis” or the “Great Recession,” was a severe worldwide economic crisis that occurred in the late 2000s. It was the most serious financial crisis since the Great Depression of the 1930s and had far-reaching economic and social consequences.

Housing Bubble: The crisis had its roots in the U.S. housing market. In the early 2000s, there was a housing bubble where home prices were rising rapidly, driven by lax lending standards and a surge in subprime mortgage lending. Many people who could not afford conventional mortgages were given loans with adjustable interest rates, which led to an increase in home ownership but also a rise in risky lending practices.

Mortgage-Backed Securities (MBS): Financial institutions bundled these subprime mortgages into complex financial products known as mortgage-backed securities (MBS). These securities were sold to investors worldwide as relatively safe investments, given the high credit ratings assigned to them.

Deterioration of MBS: As more subprime borrowers defaulted on their mortgage payments, the value of MBS began to deteriorate. This led to significant losses for financial institutions that held these securities, including major banks and investment firms.

Bank Failures: Some of the largest financial institutions in the world, such as Lehman Brothers, Bear Stearns, and AIG, faced severe financial distress or bankruptcy due to their exposure to MBS-related losses. Lehman Brothers’ bankruptcy in September 2008 marked a turning point in the crisis, causing widespread panic and a freezing of credit markets.

Credit Freeze: The crisis led to a credit freeze, where banks became extremely reluctant to lend money to each other or to businesses and consumers. This lack of available credit had a cascading effect on the broader economy, leading to a severe economic downturn.

Government Interventions: In response to the escalating crisis, governments and central banks around the world took various measures to stabilize financial markets and prevent a complete collapse of the financial system. These measures included bank bailouts, monetary policy actions, and stimulus packages.

Recession: The financial crisis quickly evolved into a global economic recession. Unemployment rates increased, housing prices plummeted, and many people lost their homes and jobs. The recession had profound and lasting effects on individuals, businesses, and governments.

Regulatory Changes: In the aftermath of the crisis, there were significant regulatory reforms aimed at preventing a similar crisis in the future. The Dodd-Frank Wall Street Reform and Consumer Protection Act in the United States, for example, introduced various measures to increase transparency, strengthen financial oversight, and regulate risky financial practices.