Global economy weekahead: From a soft patch to quicksand | Reuters: "The global economy has entered a dangerous phase, calling for exceptional vigilance, coordination and readiness to take bold action from members and the IMF alike," the International Monetary Fund's steering committee warned on Saturday.
Australian Treasurer Wayne Swan spoke of a "somber mood" among policymakers. Financial markets priced in a growing risk that Greece may default, which could touch off a panic worse than what followed the Lehman Brothers bankruptcy.
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