Einstein said: the world does not fall apart because of inflicting harm but because of those who look to harm not move their finger.
While it was all eyes directed at Greece and other things the European Union, warned the World Bank from falling global economic growth and urged developing countries to predispose to shocks may be more severe than the 2008 crisis. Has said Andrew Burns, Director of Macroeconomics at the World Bank that there is a real danger and current and that this crisis may be deeper than the economic collapse that occurred after the collapse of Lehman Brothers.
"At this time, developing countries will be in a much better position than high-income countries is why we are worried. Will come a time where you will not be able to high-income countries of displaying the same kind of financial or policy support for the financial system as used in 2008 and 2009. There was a great response in 2008, but it is not clear that it is possible to use the same techniques in the same event, which was previously. That parts of the economy, which was estimated in 2008 has deteriorated. "
The Bank report has said so. Bank halted growth forecast for developing countries this year to 4.5 percentage after it was 6.2 but for the developed countries ratio of 1.4 after it was 2.7. This has warned the 17 countries that use the euro an economic contraction which will stop their growth hopes on after it was -0.3 +1.8 previously. The World Bank suggests that governments are in a weaker position to respond to the crisis of 2008 as they did in the past because this time their debts and budget they have flaws too large. The Bank's vision adds in the report "Prospects for the global economy" and issued twice a year to the prevailing pessimism in the center of the European debt crisis and high unemployment Oumadlat States.
This may affect and harm the economic recession in Europe and the economic slowdown in India, Brazil and other developing countries in global growth. The situation could worsen if the European countries can not raise the money to the financial market. The period in which they enjoyed a relative growth of developing countries at a time when she was suffering when the United States and European countries of the decline will change that shrinks sharply as well. The proposal is that it must be arranged in anticipation of the economic shock Organization so as to cover imperfections budget. They must review the health of their banks and focus on spending on social safety nets.
The Bank report similar dry warnings related to the global economy by the sister organization of which the International Monetary Fund. For the United States Bank reduced the growth rate for this year to 2.2 after it was 2.9 and 2.4 in the year 2013 after it was 2.7. The report said the expected global slowdown and the ongoing battle in Washington over expenditures and taxes. The United States is now some pain because of the crisis in the European Union. Exports to Europe fell by 6 in the month of November and the Commerce Department also reported last week.
The Bank also reported that global growth might suffer from the interaction of the EU crisis efforts with India and China, Russia, South Africa and Turkey to alleviate growth and inflation by using interest rate levers and other metrics.
Has hurt the global downturn developing countries by lowering the prices of metals and farm and other goods and the demand for other exports. The slowdown in growth affect trading in weakening and prices of goods.
Expanded global exports of goods and services increased by 6.6 in 2011, when this ratio up to barely half the previous year where the ratio was 12.4. The bank expects to fall rate Alnmmo to 4.7 this year. And metals prices will drop, energy and farm products by 10-15 than it was in 2011.
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