The global economy – unbalanced and fragile recovery    Since the beginning of the global financial crisis, uncertainty about economic recovery and economic prospects in general has been elevated. What initially appeared to be an exceptionally rapid recovery after an exceptionally deep financial crisis turned out to be very fragile, unbalanced and globally uneven.
  Unlike in periods after earlier crisis episodes, this time growth rates in industrial countries remained at moderate levels, unemployment rates ceased to decline further and private consumption remained hesitant. The need to consolidate fiscal balances in all industrial countries after rapid deterioration further dampened consumer and business confidence.