17 Dec '11, 1am

In strongest warning yet, IMF raises risk of another Great Depression: Referring to the Great Depression, she ad...

LONDON - The world risks sliding into a 1930s-style slump unless countries settle their differences and work together to tackle Europe's deepening debt crisis, the head of the International Monetary Fund (IMF) has warned. On a day that saw an escalation in the tit-for-tat trade battle between China and the United States and a deepening of the diplomatic rift between Britain and France, IMF managing director Christine Lagarde issued her strongest warning yet about the health of the global economy and said if the international community failed to co-operate, the risk was of "retraction, rising protectionism, isolation". Referring to the Great Depression, she added: "This is exactly the description of what happened in the 1930s, and what followed is not something we are looking forward to." Ms Lagarde's speech at the US State Department in Washington came amid growing concern...

Full article: http://www.todayonline.com/World/EDC111217-0000045/In-str...

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Depression…………

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