BERLIN – The global economic crisis isn’t over yet, despite positive signals from Europe’s biggest economies, the head of the International Monetary Fund (IMF) warned in comments published Saturday.
More work also needs to be done on financial-sector regulation, IMF Managing Director Dominique Strauss-Kahn was quoted as saying in an interview with German weekly Der Spiegel ahead of the Group of 20 summit in Pittsburgh Sept. 24-25.
“In the minds of too many – not only regular people but also top politicians – the financial crisis is already behind us,” Strauss-Kahn said, according to the report.
“That way of thinking is dangerous,” he was quoted as saying. “The global economic crisis continues despite the fact that Germany and France saw some positive growth figures for the last quarter.”
The two European heavyweights moved to modest growth in the second quarter. Regardless of that, unemployment will continue to rise for at least another year, Strauss-Kahn added.
Strauss-Kahn said pay systems in the financial sector need to be reconsidered and action is needed to tighten capital regulations for banks, Der Spiegel reported. He said he hoped the Pittsburgh summit would produce new momentum. –(The Philippine Star)
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos
July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
