Financial Times FT.com

Economic cost: Crisis leaves lasting scars

By Chris Giles

Published: October 5 2009 17:23 | Last updated: October 5 2009 17:23

So much about the global financial and economic crisis is uncertain two years after it started, but one thing is crystal clear. People in rich and poor countries alike are poorer in 2009 than they expected to be a couple of years ago.

The distribution of this pain varies widely, but a loss of wealth and opportunities is universal, coming as it does after the deepest and longest recession for several generations in many countries.

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