'World is close to another Lehman-type moment'
The response of the markets to the glaring lack of global leadership and political will to deal with the crisis in a coherent way is indicative of how perilously close we are to another "Lehman-type" moment, but without the ammunition of 2008, said Marcus.
Johanesburg:The global economy is in a danger zone from which it will be hard to escape and South Africa would do well to cushion itself by reducing its dependence on European export markets, Reserve Bank Governor Gill Marcus said in an article published on Wednesday.
"The response of the markets to the glaring lack of global leadership and political will to deal with the crisis in a coherent way is indicative of how perilously close we are to another "Lehman-type" moment, but without the ammunition of 2008," Marcus said in the article in the Financial Mail magazine.
Reuters
India’s trade surplus with US may cross $90 billion after tariff cuts, says SBI report
Inflation likely to be a big focus area for budget 2024, say sources
Explained: Will the Bank of Japan break tradition and raise interest rates?
UK enters recession, central bank admits
Explained: How the rising US dollar can affect everyone