Times: Head of IMF fears unrest without action on economy

Violent unrest may be sparked around the world by a prolonged global slump unless governments act with greater urgency to jump-start stalled economies, the head of the International Monetary Fund said on Monday. Dominique Strauss-Kahn sounded a stark warning over the consequences of weak and uncertain government reaction to the economic crisis. The IMF has called for governments in leading economies to spend a combined 2 per cent of global GDP, or $1.2 trillion, to try to fend off the danger from global recession.“If we are not able to do that, then social unrest may happen in many countries - including advanced economies.” He also claimed that violent protests could break out in countries worldwide if the financial system was not reordered to benefit everyone rather than a small elite.