US and Europe risk double-dip recession, warns IMF

[CHIMO]

The International Monetary Fund warned on Tuesday that the United States and the eurozone risk being plunged back into recession unless policymakers tackle the problems facing the world's two biggest economic forces.

In its half-yearly health check, the Washington-based fund said the global economy was "in a dangerous place" and that its forecast of a slow, bumpy recovery would be jeopardised by a deepening of Europe's sovereign debt crisis or over-hasty attempts to rein in America's budget deficit.

"Global activity has weakened and become more uneven, confidence has fallen sharply recently, and downside risks are growing," the IMF said as it cut its global growth forecast for both 2011 and 2012.

The IMF also cut its growth forecasts for the UK economy and advised George Osborne to ease the pace of deficit reduction in the event of any further downturn in activity.

http://www.guardian.co.uk/business/2011/sep/20/us-europe-double-dip-recession-imf

[Turbineguy]

1. Such a deal!

they can get out of it for a mere $8 Billion Euros.

So they probably won't.

I seem to recall at the beginning of the housing crisis the total cost would have been $40 million. Less than we spent investigating Clinton's sexual proclivities.