13 Aug '11, 9am

'More dangerous' times ahead: World Bank chief

'More dangerous' times ahead: World Bank chief

World Bank chief Robert Zoellick on Saturday warned of a 'new and more dangerous' time in the global economy, with little breathing space in most developed countries as a debt crisis hits Europe. -- PHOTO: AFP SYDNEY (AFP) - World Bank chief Robert Zoellick on Saturday warned of a 'new and more dangerous' time in the global economy, with little breathing space in most developed countries as a debt crisis hits Europe. Mr Zoellick said the eurozone's sovereign debt issues were more troubling than the 'medium and long-term' problems which saw the United States downgraded by Standard and Poor's last week, sending global markets into panic. 'We are in the early moments of a new and different storm, it's not the same as 2008,' said Mr Zoellick, referring to the global financial crisis. 'In the past couple of weeks the world has moved from a troubled multi-speed recovery - with e...

Full article: http://www.straitstimes.com/The-Big-Story/The-Big-Story-2...

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'More dangerous' times ahead: World Bank chief

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