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Zoellick says the world economy at risk
15/08/2011
BAGHDAD - The agencies in the aftermath of crisis, world religion warned World Bank President Robert Zoellick, the world economy entered a new stage and more dangerous, and it is not in front of more developed countries, only a little time to move, at a time hit when the debt crisis of Europe. Zoellick said in an interview The problems of sovereign debt in the euro area is more dangerous than the problems of medium and long term due to reduced agency Standard & Poor's credit rating of the United States, causing confusion for the global financial markets. According to World Bank President, the storm that hit the global economy is different from the global financial crisis in 2008, and the world moved in the past few weeks from the stage of a volatile recovery of the economies butyrate degrees to the stage new and more dangerous. He was referring to the problems of the euro area may become the biggest challenge facing the global economy, adding that the move of the European Union limit the time was not enough, and that the lesson of the 2008 crisis that the more we delay in taking decisions required are these decisions more severe. and on the status of Britain Zoellick urged Prime Minister David Cameron not to postpone the austerity measures by the action of riots in British cities, considering that it is necessary to reduce government spending in this country. In the current crisis, investors began - according to an interview, Zoellick - to wonder whether France and Germany - the two largest economies of Europe - unable to continue to help countries burdened by debt, without Taatardha the loss of classified excellent credit and affecting them the crisis as well. Zoellick said that regardless of the financial implications of direct current crisis, the balance of power and influence in the world is changing very quickly for the benefit of emerging economies like China, said that Beijing does not play a role in the global system.
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