Wednesday, July 13, 2016

IMF Forecasts Two-Decade Long Recession
Warns Of "Global Contagion" From Italy's Bank Crisis;
"The authorities thus face a monumental challenge. The recovery needs to be strengthened to reduce high unemployment faster and buffers need to be built, including by repairing strained bank balance sheets and decisively lowering the very high public debt .. Downside risks arise from delays in addressing bank asset quality, intensified global financial market volatility – including from Brexit, the global trade slowdown weighing on exports, and the refugee influx and security threats that could further complicate policymaking .. If downside risks were to materialize, regional and global spillovers could be significant, given Italy’s systemic weight .. If downside risks were to materialize, regional and global spillovers could be significant given Italy's systemic weight,."
- IMF
LINK HERE to the article

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