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Warning of crisis ‘worse than GFC’, says World Bank

Posted on 19 January 2012

The World Bank has warned that the globe risks a deeper recession than the 2008-09 crisis, with any recovery likely to be longer as Europe’s debt problems and slowdowns in key countries such as India threaten growth.
As the Gillard government last night warned that Australia would be “hit by the huge challenges in the global economy” while expressing confidence that the nation would weather the storm, economists predicted further interest rate cuts as the Reserve Bank sought to insulate the local economy………………………………………..Full Article: Source


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