19 Nov '11, 11am

DPM Tharman warns of severe slowdown in global economy

SINGAPORE: Deputy Prime Minister Tharman Shanmugaratnam has warned of a possible severe slowdown in the global economy due to the debt crisis in Europe. He said that this could test the leadership of Singapore's government and union movement. Mr Tharman said: "Unfortunately, troubles are brewing once again, this time in the eurozone... We have to prepare for the possibility, the very real possibility of rough times ahead, a severe slowdown in the global economy. Once again, this will test leadership, leadership not just within government but leadership within the union movement." He was speaking at a graduation ceremony for the Ong Teng Cheong Labour Leadership Institute, where Mr Tharman and Labour Chief Lim Swee Say gave out certificates and diplomas to 99 graduates. Mr Tharman's comments come a day after the Monetary Authority of Singapore (MAS) warned that the global e...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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