28 Jan '12, 1pm

World finance leaders demand quick action from EU on debt

World finance leaders demand quick action from EU on debt

DAVOS, Switzerland: Frustrated political and economic world leaders bashed the eurozone on Saturday for dragging its feet over its debt crisis, piling pressure on Brussels just ahead of a key EU summit. Japanese Prime Minister Yoshihiko Noda, speaking through a video link to the World Economic Forum's annual meeting in Davos, branded the eurozone the "major source of risks for the global economy." "Within the eurozone there should be major steps to alleviate the concerns of the international community and the markets," he said. "We ardently wish for the stabilisation of economies and finances in Europe." His views were shared by other Asian leaders and by the heads of major international financial institutions. "I've never been as scared as now," said Donald Tsang, Hong Kong's chief executive, whose four decades in public service spanned through other serious economic down...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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