Business / International
The World Is 'entering a danger zone', World Bank Chief Warns
15 Aug 2011 at 08:17hrs | Views
World Bank president Robert Zoellick has warned that the world is "entering a new danger zone" and suggested that recent political deals in the EU have not yet gone far enough to stem the bloc's economic crisis.
Zoellick, speaking in Sydney on Sunday, chastised the governments of the world's largest powers as he claimed that confidence is lacking in their ability to make tough decisions.
He said confidence in economic leadership has been slipping and it will be important that the primary economic actors take steps, both short and long term, to restore that.
Zoellick said it'll be very important for the European economies to get ahead of the problem as opposed to continually be pulled along.
He said developing countries are now the source of growth and opportunity.
Zoellick, speaking in Sydney on Sunday, chastised the governments of the world's largest powers as he claimed that confidence is lacking in their ability to make tough decisions.
Zoellick said it'll be very important for the European economies to get ahead of the problem as opposed to continually be pulled along.
He said developing countries are now the source of growth and opportunity.
Source - Byo24News
