“Get ready” a big storm is on its way – World Bank

The World Bank warned developing countries today to prepare for the “real” risk that an escalation in the Euro area debt crisis could tip the world into a slump on a par with the global downturn in 2008/09.

In a report sharply cutting its world economic growth expectations, the World Bank said Europe was probably already in recession. If the euro area debt crisis deepened, global economic forecasts would be significantly lower.

The sovereign debt crisis in the Euro zone appears to be contained,” Justin Lin, the chief economist for the World Bank, told reporters in Beijing on Wednesday.

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About Giorgio Bertini

Director at Learning Change Project - Research on society, culture, art, neuroscience, cognition, critical thinking, intelligence, creativity, autopoiesis, self-organization, rhizomes, complexity, systems, networks, leadership, sustainability, thinkers, futures ++
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