Blue and Green: IMFs financial counsellor José Vials, has said the threat of instability and recession was one of a triad of risks that could knock 3% off global GDP. Second was debt and disharmony in Europe. Third is centred on global markets that will transmit shocks rather than cushion the blow.
Vials drew attention to the emerging economies of China, Brazil, Turkey and Malaysia. He called on banks to remain vigilant and be ready to increase their stimulus programmes should emerging economy issues contaminate...