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In its latest briefing note the IMF warned that world growth would slow in the second half of 2010 and the first half of 2011. Meanwhile the cost of Greek government debt has shot up again, despite the ECB rescue-package, and the IMF will soon inject another 2.5bn euros into the Greek economy. Finally, European trade unions are planning a winter of protest against cuts. These are just the latest glimpses of what is happening in the world economy.