The credit crunch and its effects: if the newspapers are to be believed, the mood at the recent 2008 World Economic Forum in Davos was nothing like the upbeat atmosphere of days past.

Swiss NewsNbr. 2008, April 2008

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The credit crunch and its effects: if the newspapers are to be believed, the mood at the recent 2008 World Economic Forum in Davos was nothing like the upbeat atmosphere of days past.

Despite assurances from U.S. Secretary of State Condoleezza Rice as to the resilience of the American economy, many people left this year's WEF with the belief that a U.S. recession was not only a strong possibility, but likely to result in a global slowdown.

Last autumn it seemed the financial markets were...

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