Bankers urged to address poverty

POVERTY and unemployment reared their heads at the World Economic Forum yesterday, with speakers urging the elite audience to bridge a growing gap between booming multinationals and the jobless poor.

Greek Prime Minister George Papandreou said the global crisis had led to an “unsustainable” race to the bottom in labour standards in developed nations. Maurice Levy, chairman and chief executive of French advertising giant Publicis, said: “People do not understand that these large corporations are doing extremely well, while their lives have not improved.”