Euro currency could collapse and trigger another Great Depression, IMF warns for the first time
Euro currency could collapse and trigger another Great Depression, IMF warns for the first time
By Hugo Duncan
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The eurozone debt crisis could lead to the break-up of the single currency and trigger a slump to rival the Great Depression, a leading global watchdog said yesterday.
In its flagship World Economic Outlook report, the International Monetary Fund warned that the collapse of the euro could not be ruled out if a country quits the stricken currency.
It was the first time the Washington-based institution has accepted the prospect of the euro breaking up and came amid mounting fears over the health of Spain.
The IMF predicted a return to recession in the eurozone this year but upgraded its growth forecasts for Britain from 0.6 per cent to 0.8 per cent.
However, it warned that the world remains at risk of collapsing into a new slump that would rival the Great Depression – with an ‘acute crisis in Europe’ the major threat
FULL STORY: http://www.dailymail.co.uk/news/article-2131141/Euro-currency-colla...Comment
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Comment by Less Prone on April 17, 2012 at 7:37pm
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For once the mother fkkers are right that the euro could collapse but threatening us with a global depression is irrelevant. The money system of this whole planet must be dismantled and the blood sucking bankters tried for their crimes. They have created the global financial crises and exploited us from the very beginning. Collecting interest for money that never existed is a crime! The creature must be stopped.
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