Head of IMF Warns of Civil Unrest and Violence if Financial System Benefits Only the Elite

http://www.guardian.co.uk/business/2008/dec/16/imf-financial-crisis

IMF chief issues stark warning on economic crisisAngela Balakrishnan guardian.co.uk, Tuesday 16 December 2008 The head of the International Monetary Fund urged governments to step up action to stem the global economic crisis or risk delaying a recovery and sparking violent unrest on the streets.[...]Governments in leading economies have been called upon by the IMF to commit a combined 2% of global GDP, equivalent to £1.075bn, to try combat the dangers of a global recession. But the IMF chief blamed governments, saying they were unwilling or unable to use more public funds to jump-start economic activity."If we are not able to do that, then social unrest may happen in many countries - including advanced economies," Strauss-Kahn said.He added that violent protests could break out in countries worldwide if the financial system was not restructured to benefit everyone rather than a small elite.[...]