Mon, Jan 28, 2013 - Page 15 News List

Lagarde warns against complacency

NO TIME TO RELAX:While the mood at this year’s Davos forum was more upbeat than past years, the consensus was that the global recovery is fragile and requires vigilance

AFP, DAVOS, Switzerland

Other officials expressed fears that governments would increasingly lean on central banks, which have often been the heroes of the fragile global recovery in the past two years, instead of taking action themselves.

However, in many ways it was business as usual at Davos, with world leaders huddling in private and corporate deals sewn up on the sidelines, such as a US$10 billion shale gas deal between Ukraine and oil giant Royal Dutch Shell.

Even a noisy protest yesterday by three topless, pink-flare-waving women from a Ukrainian feminist group failed to shock — they had targeted Davos the previous year too.

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