"The Bank for
International Settlements (BIS), the organisation that fosters
cooperation between central banks, has warned that the credit crisis
could lead world economies into a crash on a scale not seen since the
1930s."
"In its latest quarterly report, the body
points out that the Great Depression of the 1930s was not foreseen and
that commentators on the financial turmoil, instigated by the US
sub-prime mortgage crisis, may not have grasped the level of exposure
that lies at its heart."Central bank body warns of Great Depression -
www.bankingtimes.co.uk
