THE INDEPENDENT: The international economy is on the brink of a deep new economic crisis that could cost millions of jobs around the globe and trigger mass social unrest, the world's most powerful nations were warned yesterday.
As the leaders of the G20 countries prepare for emergency talks on averting a return to worldwide recession, the United Nations' International Labour Organisation (ILO) issued a grim forecast of the social effects of the continuing economic crisis.
The UN agency warned that it could take until 2016 for global employment to return to the levels of three years ago – and that anger could erupt on the streets of Europe and other continents as a result.
The economic gloom was exacerbated yesterday by Greek Prime Minister George Papandreou's surprise announcement that his country would hold a referendum on the European debt deal that was struck last week. The vote could put the tortuously conceived package in jeopardy.
The Greek Finance Minister, Evangelos Venizelos, said the announcement was prompted by popular discontent at the terms of the deal. » | NIGEL MORRIS, BEN CHU | Tuesday, November 01, 2011
