Quantcast


Last updated: March 17. 2013 3:03AM - 150 Views

Story Tools:

Font Size:

Social Media:
53ca50bfad5d47629cb6ec3c32e1c80c.jpg



(AP) Despite renewed confidence in the global economy, the founder of the World Economic Forum says he sees danger signs ahead.


Klaus Schwab told The Associated Press that cautious realism and a recovery of public trust are needed to avoid another major financial crisis.


He said Monday the world economy may still confront a collapse if very negative constellations occur.


Stocks started strongly this year and the euro currency union no longer seems in danger of collapse. But unemployment remains high in many developed economies and the public's faith in business and government leaders is falling.


Schwab spoke ahead of the gathering this week organized by the WEF of more than 2,000 of the world's financial and political elite at the Swiss mountain resort of Davos.


Associated Press
Comments
All user comments are subject to our Terms of Service. Users may flag inappropriate comments.
comments powered by Disqus



Featured Businesses


Poll



Info Minute



Gas Prices

Wilkes-Barre Gas Prices provided by GasBuddy.com