Global crisis for long

Havana, (Prensa Latina)

Experts attending the International Meeting on Globalization and Development Problems here agreed that the current global economic crisis will last long and be the most serious since the great depression of 1929.Director of the Latin American Program of Correspondence Education in Social Sciences, Atilio Boron, said that unlike that of 1929, the current collapse has a systemic nature.

He added that it is accompanied by crisis in energy, food, water, environment and other complications, and it is the most complex and harshest.Recovery will not be achieved in several quarters, as defenders of the neoliberal system pretend, with even US authorities admitting that it might take a decade, he noted.

It has yet to reach rock bottom, and a proof of that is plummeting stock exchanges worldwide, despite capital injections, said Boron. He called on participants in the meeting concluding Friday to denounce the true nature and dimension of the crisis, which neoliberals are trying to hide, as they say it is only financial and will have a way-out within the system's mold.

Francois Houtar, from the Tri-continental Center, in Belgium, focused his speech on the intellectuals' role in the construction of a postcapitalist era and the transition to Socialism.