Global Economy Entering 'Danger Zone', Warns World Bank Chief

World Bank President Robert Zoellick warns that the global economy is stepping into a 'new danger zone' amid slow growth and weak investor confidence, reports a Reuters article published by the Straits Times.

 

Speaking in Beijing, Zoellick urges Europe and the United States to address their debt problems, and notes that inflation and volatile commodity markets are threatening the most world's vulnerable people.

 

"The financial crisis in Europe has become a sovereign debt crisis, with serious implications for the Monetary Union, banks, and competitiveness of some countries," says Zoellick.

 

 

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