IPFS News Link • Economy - International

Elite Depression at Davos

01-26-2013 • The Daily Bell

Some of the world's most influential leaders will be faced with a familiar set of unsolved problems during the World Economic Forum's (WEF) annual meeting in Davos, following a year of economic and political stagnation. Derided by some as being little more than a millionaire's cocktail party indulging in empty rhetoric, the 43rd gathering of international movers and shakers will again talk about debt crises, rampant unemployment, environmental time bombs and irresponsible finance. The lack of progress from last January even has WEF founder Klaus Schwab tearing his hair out while lamenting the tendency of many countries to look after their own interests at the expense of finding global solutions. "The fact is that we are still in some way blocked from making progress," he told a press conference on January 15. – SwissInfo