IMF says "dangerous" imbalances threaten global recovery
The International Monetary Fund (IMF) says “dangerous” imbalances have emerged which threaten to derail the global recovery and spark civil wars, the Telegraph reports.
The IMF has published a paper arguing that the extreme gap between rich and poor was an underlying cause of the recession. It warns of “disastrous consequences” for the world economy unless workers regain their “bargaining power”.
Dominique Strauss-Kahn, the chief executive of the IMA, says: “It is not the recovery we wanted. It is a recovery beset by tensions and strain, which could even sow the seeds of the next crisis. (article continues below)
“Global unemployment remains at record highs, with widening income inequality adding to social strains.”
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