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The Fund needs an urgent cash infusion if it is to continue bailing out troubled economies in the future. Mr Strauss-Kahn also indicated that the world's advanced economies were now tipping from recession into full-blown depression, cementing fea
"The crisis today is spreading even faster (than the Great Depression) and affects more countries at the same time," Pascal Lamy told the Die Welt newspaper.
China, setting out for the next global financial summit, wants the International Monetary Fund to get tougher with developed countries that let their economies run off the rails. On financial regulation, the memo says accounting standards and credit
Spain is losing jobs at three times the rate of the US, in proportionate terms. Over one million Spanish men under thirty are unemployed, leading to a surge in applications to join the armed forces. Three quarters of the army candidates are being tur
“We should agree, as a world, on a monetary and fiscal stimulus that will take the world out of depression.” Prime Minister Gordon Brown, Feb 3, 2009 Expect turmoil in stocks in the run up to the G20 meetings on April 2,2009.
Iceland's government could be ousted from power this weekend, becoming Europe's first to fall as a direct result of the global financial crisis, according to a spokesman for the prime minister.
