2007

2007 was an ordinary year (not a leap year) that began on a Sunday according to the Gregorian calendar, the calendar most widely used internationally. It was the 2007th year in ordinary reckoning and the seventh year of the 2000s decade.

The year was marked by significant changes in global financial markets, advances in smartphone technology, and political upheavals in various regions. Many of the major events of this year had consequences that extended into subsequent years.

Economy

From mid-to-late 2007, problems emerged surrounding home mortgage debt in the United States, known as subprime mortgages. Banks and financial institutions suffered losses related to these mortgages, which triggered turmoil in global debt markets. This situation later contributed to the global financial crisis of 2008.

Technology

The year saw the introduction of Apple's iPhone, which became an important example of innovation in the design of modern smartphones. The use of social media networks and mobile internet services also continued to grow during this period.

International politics

In 2007 the European Union expanded its membership when Bulgaria and Romania joined at the beginning of January. Military operations in Iraq and Afghanistan continued, while Somalia experienced conflict between the transitional government, Ethiopian forces, and armed groups in Mogadishu and central regions.