The financial crisis will be "more extreme and more serious than that of the 1930s", cabinet minister Ed Balls has predicted. Mr Balls, a former economic adviser to Gordon Brown, said the global recession would be the most serious for "over 100 years", the Yorkshire Post reported. He told a Labour conference that these were "seismic events that are going to change the political landscape". The Conservatives said the remarks were "staggering and very worrying".
The financial crisis will be "more extreme and more serious than that of the 1930s", cabinet minister Ed Balls has predicted.
Mr Balls, a former economic adviser to Gordon Brown, said the global recession would be the most serious for "over 100 years", the Yorkshire Post reported.
He told a Labour conference that these were "seismic events that are going to change the political landscape".
The Conservatives said the remarks were "staggering and very worrying".
