Unemployment And Sovereign Debt Crisis Threaten 2012--World Economic Forum
The World Economic Forum laid out its concerns about 2012 in its “Global Agenda” document
At the core of its analysis
Dominated by the crisis in the Eurozone, economic discussion is driven by the state of sovereign balance sheets. In 2008, when developed country governments stepped in to support their banking systems through the financial crisis, they brought the problem onto their own balance sheets. The world’s largest economies are now facing sovereign debt crises, and this at a time when many countries are facing slow or negative growth and significant levels of unemployment. As a result, 2012 is likely to see increasing instability due to the absence of a sound and globally accepted financial regulatory system, lack of confidence in market participants or facilitators, and speculation.