Sri Lanka economy has to keep moving for stable society: CB Governor

Oct 06, 2011 (LBO) – Sri Lanka’s economy has to move forward without interruption to avoid unrest and instability amid turmoil around the world, Central Bank Governor Nivard Cabraal said. “The world is going through tremendous turmoil if you look at the way the economic scenario is unfolding. Cabraal told members of the Institution of Engineers in Sri Lanka.

“Just in the last three days we have seen the uprising in West as well as the USA itself. For the first time we have seen people being arrested on masse.”

Protestors turned up in Wall Street, America’s financial district protesting banks whose ‘greed’ has been made a scapegoat for a collapsing bubble which dragged down the US and rest the rest of the world.

This week major US trade unions joined the protest, and even mothers will babies have joined in creating a festive air, report said the move is gathering momentum, with even Democratic party politicians voicing support for what is seen as a left wing protest.

America’s woes were triggered in 2001 when the Federal Reserve started to print money to head of perceived deflation firing what classical economists called the ‘mother of all liquidity bubbles’ sending prop