According to Oatley,analysts seemed to agree that the financial turbulence which included "Black Monday" (October 19,1987)was a direct market response to the evident inability of the United States and Germany to find a cooperative solution to global current account imbalances.

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Oatley indicates that the financial turbulence, including "Black Monday," was indeed seen by analysts as a direct response to the failure of the United States and Germany to cooperatively address global current account imbalances, highlighting the interconnectedness of global financial markets and the impact of geopolitical relations on economic stability.

According to Oatley,analysts Seemed to Agree That the Financial Turbulence