by Calculated Risk on 9/26/2009 01:28:00 PM

A quote from Bloomberg: Strauss-Kahn Says Crisis Consequences Will Last Long Time

“We will still have rising unemployment at least for a year,” [International Monetary Fund Managing Director Dominique] Strauss-Kahn said via videolink in an address to the Yalta European Strategy Conference from Washington. “From this point of view, the crisis isn’t over. It is too early to claim victory, even that we have avoided the worst situation. The consequences will be there for a long time.”

Strauss-Kahn makes several key points:

Unemployment will continue to rise for some time.

The consequences of the crisis will "be there for a long time".

It is too early for a victory lap.

Earlier this week, Strauss-Kahn expressed concern about the social consquences of the crisis (via Reuters):

"In many areas of the world, what is at stake is not only higher unemployment or lower purchasing power, but life and death itself," Strauss-Kahn said.

"We don't just care about growth for growth's sake, we also want to safeguard peace and prevent war," he said, adding: "Indeed, when low-income countries were doing well over the past decade or so, the incidence of war declined significantly. The great fear is that this trend could be reversed."