Monday, November 23, 2009
Many officials and experts have warned of violence stemming from the economic crash.The head of the International Monetary Fund, Dominique Strauss-Kahn, is now warning that there might be a revolution if some countries if governments hand out another round of bailouts to the financial sector:
The public will not bail out the financial services sector for a second time if another global crisis blows up in four or five years time, the managing-director of the International Monetary Fund warned this morning.
Dominique Strauss-Kahn told the CBI annual conference of business leaders that another huge call on public finances by the financial services sector would not be tolerated by the “man in the street” and could even threaten democracy.
"Most advanced economies will not accept any more [bailouts]...The political reaction will be very strong, putting some democracies at risk," he told delegates.