since the Great Depression

I believe this is the most serious financial and economic crisis since the Great Depression of the thirties. The worst, I believe, is yet to come.
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A new internacional financial and economic order will emerge from this crisis. In the new order, the relative importance of the United States in the World (in economic, financial, political, military, intellectual and scientific terms) will suffer a severe blow.
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A period of economic protectionism is on the cards. Europe, if it succeeds in keeping its unity - not an easy matter in a period of economic and financial stress - might be the great beneficiary in relative terms.