The global economic crisis will not end till 2016 or later, warns IMF Chief Economist Olivier Blanchard: It will take “at least a decade from the beginning of the crisis for the world economy to get back to decent shape,” according to a recent Reuters’ report on a Blanchard interview in Europe.
“It’s not yet a lost decade,” Blanchard said, “ but it will surely take at least a decade from the beginning of the crisis for the world economy to get back to decent shape.” No matter what you can forget about a 2013 quick fix for America’s fiscal-cliff disaster. Won’t happen.
Read Full Article »