Monday, November 17, 2014

Britain: PM Cameron Issues Blunt Warning on Global Economy

LONDON — In a starkly downbeat assessment, British Prime Minister David Cameron has written that the world’s economy could be headed for another fall.

“Six years on from the financial crash that brought the world to its knees, red warning lights are once again flashing on the dashboard of the global economy,” Cameron writes in a piece published in Monday’s edition of Britain’s Guardian newspaper.

The prime minister cites a euro-zone economy that is “teetering on the brink of a possible third recession, with high unemployment, falling growth and the real risk of falling prices too.” He also references emerging market economies that “were the driver of growth in the early stages of the recovery” but are now slowing, as well as stalled trade talks, instability in the Middle East, war in Ukraine and the spread of Ebola.

Read the rest here.

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