Monday, June 01, 2009

World Banks says Disorder is imminent

SHOOT: if large amounts of people used to convenience suddenly become unemployed, what do you think they'll do? Now imagine if these unemployed people start getting swine flu...
clipped from news.bbc.co.uk
World Bank President Robert Zoellick
The head of the World Bank has warned that the global economic crisis could lead to serious social upheaval.

"If we do no take measures, there is a risk of a serious human and social crisis with very serious political implications," Robert Zoellick said.

Mr Zoellick suggested governments should start preparing for high levels of unemployment.

"In my opinion, in this context, nobody really knows what is going to happen and the best one can do is be ready for any eventuality," Mr Zoellick said in an interview with Spain's El Pais newspaper.

"There is also what I call the 'X-factor', that one can not foresee," such as the recent outbreak of swine flu, he said.

It was reported last week that Mexico's economy shrank by 8.2% in the first three months of this year compared with a year earlier. Mexico sends 80% of its exports to the US.

 blog it

No comments: