G8

Meeting in Lecce, southern Italy, at the weekend, Group of Eight finance ministers expressed their opinions on the state of their economies noting that they has significantly improved since the collapse of Lehman Brothers nine months ago. However, their nations will not move to withdraw stimulus plans yet.

Organization for Economic Cooperation and Development (OECD) forecasts the global economic crisis will have an even more severe impact on jobs. 

The new projections to be issued by the organization predict unemployment rate to increase in most OECD countries by double digit figures. The release on Sunday revealed the organization expected the unemployment rate in the OECD area in the three years to 2010 to increase by more than it had rose in 10 years to the early 1980s, including two oil shocks.