financial crisis; economic crisis
Refers to a severe disruption in public or private finances, such as a government debt crisis, banking collapse, or currency crisis.
The government is considering tax increases to overcome the financial crisis.
That country is in a serious financial crisis.
財政危機 describes a serious but still recoverable fiscal crisis, whereas 財政破綻 means the finances have actually collapsed.
Compound of 財政 (finance, public economy) and 危機 (crisis). The word is a straightforward Sino-Japanese compound with no irregular historical derivation.