The world savings rate has surpassed its modern-era high of 24pc. This is the killer in the global system. It is why we are at imminent risk of tipping into a second, deeper leg of intractable depression. 02 Oct 2011 Bundestag voted overwhelmingly to boost the scope of the EU's rescue fund but implicitly capped its firepower at €440bn, leaving it no clearer whether Europe has the means to halt debt contagion to Italy and Spain. 29 Sep 2011 Europe's banking woes have begun to set off a funding crunch in the emerging markets of Asia, Latin America, and Eastern Europe, leaving them nakedly exposed as the rich world slides into a double-dip downturn. 28 Sep 2011
Ambrose Evans-Pritchard
Ambrose Evans-Pritchard is International Business Editor of The Daily Telegraph. He has covered world politics and economics for 30 years, based in Europe, the US, and Latin America. He joined the Telegraph in 1991, serving as Washington correspondent and later Europe correspondent in Brussels.
LATEST FROM AMBROSE EVANS-PRITCHARD
Protectionism beckons as leaders push world into Depression
German bailout vote 'too little too late'
Debt crunch threatens emerging markets
Sunday, 9 October 2011
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