No recovery till 2018, IMF warns

The International Monetary Fund’s chief economist has warned that theglobal economy will take a decade to recover from the financial crisis as the latest snapshot of the UK economy suggested that growth in the third quarter will be at best anaemic.

Olivier Blanchard said he feared the eurozone crisis, debt problems in Japan and the US, and a slowdown in China meant that the world economy would not be in good shape until at least 2018. “It’s not yet a lost decade,” he said. “But it will surely take at least a decade from the beginning of the crisis for the world economy to get back to decent shape.

— The Guardian