Monday, February 02, 2009

Yunus defends the poor at the World Economic Forum

Nobel laureate and founder of micro credit Muhammad Yunus attended the World Economic Forum. He spoke out in defense of the poor to the ultra rich gathered at the forum. Yunus reminded them that the poor would be the worst effected by the global economic crisis.

The Daily Star picked up some quotes from Yunus' remarks at the forum.

Yunus, who joined the Davos Philanthropic Roundtable as a panellist, said the world is busy talking about bailout packages for companies. But the design of similar packages for the poor is also be needed at the same time.

Yunus, the founder and Managing Director of Grameen Bank, underlined that the crisis increased the need for special attention to the poor and that the rich still had plenty of money.

"Those who had billions and have lost half of it still have the other half. Their lifestyles will not change. But the real impact of the crisis will be on the people at the bottom," said Yunus, who was given the Nobel Peace Prize in 2006 for his efforts to lift people out of extreme poverty.

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