Monday, 25 May 2009

"I predict a riot" - says the World Bank

World Bank warns that the global economic crisis could lead to serious social upheaval.

So Frank Field is not alone - he's being joined by the Head of the World Bank too.  Robert Zoellick said yesterday "If we do not take measures, there is a risk of a serious human and social crisis with very serious political implications."

Mr Zoellick suggested governments should start preparing for high levels of unemployment, whilst the retiring Bank of England rate-setter David Blanchflower has said at least one million more people in the UK will lose their jobs and there is a real risk of a lost generation.

Are they right, wrong, or could it be much worse than this ...?