EU Referendum


I guess it's who says it


18/04/2012



euro collapse.jpg

IMF chief economist Olivier Blanchard goes public and "predicts" what we have all been saying for years.

He warns that the world remains at risk of collapsing into a new slump that would rival the Great Depression – with an "acute crisis in Europe" the major threat. Says Blanchard, "Things have quietened down but there is a very uneasy calm". He then adds: "I have a feeling that at any moment things could get very bad again".

The man was speaking at the launch of the World Economic Outlook in Washington, Mr Blanchard said there was " no plan" for a country to leave the euro. But it is widely expected that Greece will eventually be forced to default on its crippling debts and quit the doomed single currency to save it from years of economic hardship.

And when it happens, we'll all be saying "I told you so". But right up front will be Mr Clever-clogs Blanchard, and they will be saying what a clever man he is to predict what everybody already knew. That's what they call prestige, I suppose, and that's why he gets the big bucks.

It's not what you say, it's who says it that matters.

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