Delegates at the Swiss meeting see little end to the financial crisis currently affecting global economic growth.
Business leaders, heads of state and economists struck a gloomy note as the World Economic Forum came to an end at the weekend.
Held in Davos, Switzerland, one of the main purposes of this year's round of meetings was to try to find solutions to the global credit crisis and financial downturn. However, a fractious atmosphere prevailed among delegates, with a diplomatic spat between Turkey and Israel over the hostilities in Gaza breaking out on stage.
Attendees also confessed unease about the strikes breaking out in the UK due to workers being concerned about their employment prospects in the recession. Millions also marched in France last week, expressing their anger at the government's handling of the financial crisis.
Financial experts at Davos suggested that there was little hope in sight for a swift resolution of the economic crisis. This follows the release of figures from the International Monetary Fund last week, forecasting a slowdown in global output growth to a near-unprecedented 0.5 percent for 2009.
Speaking to Bloomberg, financial expert and author Nassim Nicholas Taleb said that banks should be nationalised in response to the crisis. "The only way to stop the [crisis] is for the government to own those banks," he commented.
An un-named "top money market manager" speaking to the BBC added: "If you believe that the world economy will turn the corner at the end of this year, or in [the first quarter] of 2010, I tell you we have not turned the corner, we can't see the corner, we don't even know where the corner is."
