World Bank head Robert Zoellick warned everyone that the continuing economic crisis can lead to social unrest. “If we do no take measures, there is a risk of a serious human and social crisis with very serious political implications,” he said.
Well, it doesn’t take a fancy and influential position to say that. History book should serve as a constant reminder of what can happen when people lose their jobs and homes and become broke and hungry.
Zoellick highlights the current situation in Eastern Europe where the region’s economies are shrinking fast. He suggests that governments should be ready to handle sudden rises in unemployment rates.
“In my opinion, in this context, nobody really knows what is going to happen and the best one can do is be ready for any eventuality,” Zoellick told Spain’s El Pais newspaper. “There is also what I call the ‘X-factor’, that one can not foresee,” pertaining to the swine flu spread.
The World Bank has previously warned of a “human catastrophe” in the world’s poorest countries unless more is done to tackle the global economic crisis.
The organization pegged that 53 million more people are at a risk of extreme poverty.
Source: BBC
