World finance leaders see threats ahead for global economy, especially a Greek debt default + MORE Apr 19th

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LONDON – Prime Minister David Cameron and his main opponent agree on one thing going into Britain’s May 7 election: Voters should choose the next leader based on the health of the economy.
The question is whether the patient is recovering or is still on life support after the global financial crisis.
After five years of budget cuts, Cameron is focusing on the headline numbers. Inflation is down, employment is up and the economy is growing at the fastest rate among large industrialized nations. The Conservatives need five more years to cement the gains and ensure that benefits trickle down to everyone, Cameron says.
The opposition Labour Party is urging voters to look behind the headlines. Real earnings are below pre-crisis levels, employment figures are inflated by low-skill jobs, and the safety net that protects the poorest in society has been gutted, Labour leader Ed Miliband says. The use of food banks has soared as economic insecurity increased under Cameron’s government…

WASHINGTON – The world’s financial leaders see a number of threats facing a global economy still on an uneven road to recovery with U.S. and European officials worrying that Greece will default on its debt.
The finance ministers and central bank governors ended three days of meetings in Washington determined to work toward “a more robust, balanced and job-rich economy” while admitting there are risks in reaching that objective, the steering committee of the International Monetary Fund said in its communique Saturday.
Seeking to resolve Athens’ debt crisis, Greek Finance Minister Yanis Varoufakis held a series of talks with other finance officials on the sidelines of the meetings. The focus now shifts to Riga, Latvia, where European Union finance ministers meet next week.
The head of the European Central Bank, Mario Draghi, said it was “urgent” to resolve the current dispute between Greece and its creditors. He said that while the international finance system had been strengthened since the 2008 crisis, a Greek default would still put the global economy into “unchartered waters” with its effect hard to estimate…

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