IMF: one-in-four chance of global recession caused by US debt crisis: "The IMF says that the US debt crisis has a one in four chance of plunging the world into global recession.
America's mortgage crisis has spiralled into 'the largest financial shock since the Great Depression' and there is now a one-in-four chance of a full-blown global recession over the next 12 months, the International Monetary Fund warned today.
The US is already sliding into what the IMF predicts will be a 'mild recession' but there is mounting pessimism about the ability of the rest of the world to escape unscathed, the IMF said in its twice-yearly World Economic Outlook. Britain is particularly vulnerable, it warned, as it slashed its growth targets for both the US and the UK.
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(Via Boing Boing.)
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