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Analyst debate the cost of terrorism.

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Vincent

The true financial impact of the terrorist attacks on New York may not be known for several months, but the disaster is unlikely to accelerate a world recession, according to industry experts. "The uncertainty surrounding future terrorist attacks and US retribution will not contribute significantly to the already well-established world recession," said Andrew Harwood, managing director of financial advisers CFS Independent.

"Global stock markets have been falling for the past three years for economic reasons rather than terrorism."

There is little to suggest that the economic reaction to this disaster will differ significantly from reactions to other attacks, even though this one struck at the heart of the world's financial markets, he added.

Despite this, the...

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