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The global economy could face a “relapse” of the  crisis  that rocked the world a decade  ago and more importantly, there would not be enough “medicine” available to treat the problem this time, the Bank f International Settlements (BIS) warned in its annual report on Sunday.

Key quotes by BIS Chief Economist Claudio Borio (Source: Asia Times)

The recovery after the 2007-2008 global financial crisis had been “highly unbalanced,” with emerging economies especially under pressure.

The unconventional policies implemented by central banks had helped boost economic activity, “but some side effects were inevitable.”

The ongoing crisis in Turkey and Argentine are “withdrawal symptoms” resulting from the central banks lowering the dosage.