18 Nov '11, 4am

Singapore at risk from 'fragile' global economy, says MAS in its annual Financial Stability Review

SINGAPORE - The global economy and financial system are now at their "most fragile state" since the 2008-2009 global financial crisis, with financial stability risks increasing significantly in the second half of the year as the euro zone sovereign debt crisis escalated, said the Monetary Authority of Singapore. While Singapore and the rest of Asia has remained resilient amidst the global uncertainty, there are risks from potential spillovers from the G3 through trade and financial channels, the authority said, in its annual Financial Stability Review released today. If the G3 - the euro zone, Japan, and the United States - economic prospects continue to deteriorate, trade would slow and pull down growth in Asia. Asia is also vulnerable to sudden and large capital flows which could easily reverse, against the backdrop of rising global risk aversion in the second half of th...

Full article: http://www.todayonline.com/Singapore/EDC111118-0000115/Si...

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