Nepal – the country of the Buddha and the Mt. Everest

Peace comes from within. Do not seek it without – Buddha

Christine Lagarde: IMF Boss Says Gloomy Times Ahead And Every Economy Is At Risk

Posted by Ram Kumar Shrestha on December 16, 2011



We made world peace risk and this made economy risk as trillion dollars used not for creation but for destructio­n:

Christine Lagarde, managing director of the IMF, has issued a stark warning to world markets by claiming the future is “gloomy” and every economy in the world is at risk.

Her comments came as tensions between London and Paris were heightened further after the head of France’s central bank suggested that the UK was a candidate for a credit rating downgrade.

Speaking on Thursday Legarde said: “There is no economy in the world, whether low-income countries, emerging markets, middle-income countries or super-advanced economies that will be immune to the crisis that we see not only unfolding but escalating,”

“It is not a crisis that will be resolved by one group of countries taking action. It is going to be hopefully resolved by all countries, all regions, all categories of countries actually taking action,” Reuters reported.

“It is going to require efforts, it is going to require adjustment, and clearly it is going to have to start from the core of the crisis at the moment, which is obviously the European countries and in particular the countries of the eurozone.”

Earlier, tensions between London and Paris were heightened further after the head of France’s central bank suggested that the UK was a candidate for a credit rating downgrade.

France is bracing itself for the potential loss of its coveted AAA rating after two credit agencies last week indicated they were considering marking down countries across the eurozone.

Read the Article at HuffingtonPost

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