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.)

The credit crunch is over - recession is here

Last week the editor-in-chief made in plain to us subs: our publications should now refer to the 'recession' rather than the 'credit crunch' or even the 'economic downturn' .

Not a surprising call, but it's always good to have guidance.

Incidentally, BBC Breakfast last week used the term 'the long slump', which I thought sounded suitably sinister.