2008 History

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What Events Happened in 2008

  • Cyprus and Malta adopt the Euro joining 13 other European countries using the single currency
  • The ethnic violence in Kenya continues to worsen following the Election.
  • The truce between the Sri Lankan government and Tamil Tiger rebels has ended following continued violence
  • Following the murder of Ms. Bhutto Pakistan Elections have been postponed to 18th February. A long period of political unrest follows her death.
  • Property prices continue to fall on both sides of the Atlantic in Europe and America causing hardship to many homeowners, and problems for the financial institutions.
  • The Tata Group introduces the Nano at the New Delhi car show its ultra-cheap car in India costing 100,000 rupees the equivalent of $2,500
  • Bank of America, is to take over the country's biggest mortgage lender, Countrywide Financial which was rumored to be close to bankruptcy in a $4bn (£2.04bn) deal.
  • Citigroup, the nation’s largest bank, joins a number of other high profile financial institutions and reported a fourth-quarter loss of $9.83 billion caused by the sub prime mortgage problems
  • The Fed announced a series of interest rate cuts with federal funds target rate falling to 2.25%
  • President Bush and House leaders agree to a $150 billion stimulus package, including rebates for most tax filers of up to $600 for individuals, $1,200 for couples and, for families, an additional $300 a child.
  • The US government gives the OK to the production and marketing of foods derived from cloned animals
  • The US government auctions off radio spectrum licenses that will provide the growth for the next generation of wireless broadband devices. Verizon Wireless wins the lion's share of the spectrum during the auction.
  • Internet access is disrupted in large parts of the Middle East and India which suffered up to 60% disruption due to breaks in submarine cable systems in the Mediterranean.
  • Estimates are coming out which put the cost so far for the war in Iraq at close to $3 trillion
  • Severe thunderstorms with tornados sweep through Tennessee, Arkansas, Kentucky and Alabama.
  • General Motors Corp. reports the largest ever recorded loss for a maker of $38.7 billion loss for 2007
  • Fidel Castro steps down as president of Cuba after almost 50 years in power
  • UK experiences largest earthquake (5.2) in 25 years
  • Following a leak by the press Prince Harry is on his way back to the UK from Afghanistan
  • Suicide Bomber Kills 40 during a gathering of tribal elders and local officials in north-west Pakistan
  • Governments around the world face the continuing problems of increased oil prices causing inflation and unemployment increasing.
  • Shuttle Endeavour goes for a 16 day mission to the International Space Station.
  • A tropical cyclone devastates parts of the Irrawaddy region of Burma / Myanmar leaving over 50,000 dead.
  • An Earthquake measuring 7.8 strikes near Chengdu, Sichuan's provincial capital leaving an estimated 60,000 dead and up to 5 million homeless.
  • Olympic Torch Relay begins from Olympia, Greece, promoting the 2008 Beijing Olympics. The relay is marred by protests over Chinese treatment of protesters in Tibet.
  • The centre-left Patriotic Alliance for Change wins Paraguay's presidential election

Popular Culture 2008

  • Writers strike against Hollywood studios, networks and production companies demanding a percentage of revenue instead of a fixed fee for Internet content. The strike lasted for nearly 3 months and a compromise agreement is reached. The strike meant many popular TV programmes were affected including talk shows.

Technology 2008

  • Sony’s Blu-ray HD format now has about 70 percent of the new high-definition market and is expected to win over the rival format, HD DVD.
  • Apple sells the new ultra-thin MacBook Air notebook that is less than an inch thick and turns on the moment it's opened.
  • Microsoft attempts to buy Yahoo for $44.6bn
  • Europe's space laboratory, Columbus, docks with the International Space Station,
  • Honda begins selling it's zero-emission, hydrogen fuel-cell powered vehicle The Honda FCX Clarity.
  • US Missile Strikes a US Spy Satellite Falling From Its Orbit proving it's missile defense system works.
  • Chumby released a tiny computer enclosed in a stuffed leather pillow with a 6-inch LCD touch-sensitive screen which shows pictures, news headlines, games, incoming e-mail from the Internet.

Research for this year is provided by The People History.
See History By Year and Decade for more prices and information.
Find out more about the 2000s at ThePeopleHistory.com.