Credit crunch or recession?

Today's Metro includes the following news headline:

Bag snatches
rise as credit
crunch bites

Perhaps someone should let the paper know that 'credit crunch' isn't a synonym for 'recession'.

Tellingly, the body copy doesn't mention 'credit crunch' once but does refer to "rising unemployment... caused by the recession".

However I suppose that neither 'recession' nor 'unemployment' would have fit quite so easily in that three-deck headline.

(I would scan in the article but the scanner seems to be on the blink.)

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