21 Signs That The Global Economic Crisis Is About To Go To A Whole New Level

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The following are 21 signs that the global economic crisis is about to go to a whole new level....

#1 Bank of Israel Governor Stanley Fischer says that the global economy is "awfully close" to recession.

#2 It was announced last week that the unemployment rate in Greece has reached an all-time high of 25.1 percent. Unemployment among those 24 years old or younger is now more than 54 percent. Back in April 2010, the unemployment rate in Greece was only sitting at 11.8 percent.

#3 The IMF is warning that Greek debt may have to be "restructured" yet again.

#4 Swedish Finance Minister Anders Borg says that it is "probable" that Greece will leave the euro, and that it might happen within the next six months.

#5 An angry crowd of approximately 40,000 angry Greeks recently descended on Athens to protest a visit by German Chancellor Angela Merkel...

From high-school students to pensioners, tens of thousands of Greek demonstrators swarmed into Athens yesterday to show the visiting German Chancellor, Angela Merkel, their indignation at their country's continued austerity measures.

Flouting the government's ban on protests, an estimated 40,000 people – many carrying posters depicting Ms Merkel as a Nazi – descended on Syntagma Square near the parliament building. Masked youths pelted riot police with rocks as the officers responded with tear gas.

The authorities had deployed 7,000 police, water cannon and a helicopter. Snipers were placed on rooftops to ensure the German leader's safety.

#6 The debt crisis is Argentina is becoming increasingly troublesome.

#7 The government debt to GDP ratio in Italy is expected to hit 126 percent this year. In Greece, it is expected to hit 198 percent. In Japan, it is expected to hit a whopping 237 percent.

http://theeconomiccollapseblog.com/archives/21-signs-that-the-global-economic-crisis-is-about-to-go-to-a-whole-new-level