Global Economy

David Cameron warns of looming second global crash

David Cameron has issued a stark message that “red warning lights are flashing on the dashboard of the global economy” in the same way as when the financial crash brought the world to its knees six years ago. Writing in the Guardian at the close of the G20 summit in Brisbane, Cameron says there is now “a dangerous backdrop of instability and uncertainty” that presents a real risk to the UK recovery, adding that the eurozone slowdown is already having an impact on British exports and manufacturing. His warning comes days after the Bank of England governor, Mark Carney, claimed a spectre of stagnation was haunting Europe.

5 reasons to worry about the world economy

There’s little reason for cheer in Europe. While Germany narrowly avoided a recession in the third quarter, the latest numbers show the $13 trillion eurozone economy is stuck in first gear. High unemployment, high debt and a lack of investment continue to hold the region back.

Recovery? 60% Of Greeks Live At Or Below Poverty Levels

While Greek government yields (and political leaders) proclaim the troubled peripheral European nation is ‘recovering’, the risk of major political upheaval in Greece has not gone away ahead of next year’s presidential vote next year. As Reuters notes, under growing pressure from anti-bailout leftists, Greek Prime Minister Antonis Samaras desperately needs a new narrative to get the backing of lawmakers and rally Greeks fed up with four years of austerity. We wish him luck as Keep Talking Greece notes, it is high time that the real data of the economic situation of the Greek society come to the surface and so it did this week.

Get your money out of Britain: Global banks warn investors ‘Yes’ vote would be ‘cataclysmic’ for UK economy

International investors have been warned to pull their cash out of Britain to protect themselves against the ‘cataclysmic’ impact of Scottish independence. Japan’s biggest bank, Nomura, warned sterling could plunge by 15 per cent in the event of a ‘Yes’ vote – amid warnings over a ‘run on UK assets’ threatening savings and pensions of ordinary families. It came as it emerged David Cameron has pleaded with business chiefs to publicly warn against Scottish independence.