World Bank Cuts Economic Outlook, Says Europe Is In Recession, Warns Developing Economies To “Prepare For The Worst”
by Tyler Durden
This will hardly be a surprise to anyone with 3 neurons to rub across their frontal lobe, but at least it is now official.
WORLD BANK CUTS GLOBAL GROWTH OUTLOOK, SEES EURO-AREA RECESSION
And the punchline:
World Bank urges developing economies to “prepare for the worst” as it sees risk for European turmoil to turn into global financial crisis reminiscent of 2008
Even achieving much weaker outcomes is very uncertain