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FT.com / Global Economy - Deep gloom marks Davos opening
Deep gloom hung in the mountain air around Davos in the opening session of the World Economic Forum on Wednesday, with economists, officials of international organisations and finance ministers predicting a troubled period with a high risk of protectionism.

There was little confidence that the programmes of fiscal stimulus in many advanced countries would be very effective in mitigating the degree of decline in global output in 2009 and no hope that a coordinated strategy would be agreed among rich and poor countries.

"Dieu se rit des hommes qui se plaignent des conséquences alors qu'ils en chérissent les causes" Jacques-Bénigne Bossuet
by Melanchthon on Wed Jan 28th, 2009 at 08:05:15 AM EST
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