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Economic recovery late again, prospects dismal – Strauss-Kahn

September 14, 2012, 22:00 UTC+3
He predicted a slow global growth against a complex financial backdrop
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YALTA, September 14 (Itar-Tass) —— Economic recovery is late again and prospects are rather dismal, ex-IMF Managing Director Dominique Strauss-Kahn said at the Yalta European Strategy forum on Friday.

He predicted a slow global growth against a complex financial backdrop and said that the policy of key nations had not restored confidence in economic recovery.

The problems of the U.S. state debt and the European debt crisis remain, Strauss-Kahn said. The economy needs to be re-launched with an innovative method, he said, without going into details.

Meanwhile, Senior Advisor for Innovation to Secretary of State Hillary Clinton Alec Ross called public attention to entrepreneurship problems. Any governmental interference in the sphere of innovations is like cancer for business, he said. If the government exercises control or sets rigid legislative frameworks for innovations and private business, there will be no progress, he warned.

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