World Bank Chief: US Faces Slow Growth, High Unemployment in ‘Dangerous’ Time

Money News.com
September 6, 2011

World Bank President Robert Zoellick indicated that risks to the global economy are intensifying, with the euro region’s outlook dependent on European leaders making the right decisions.
“We are moving into a dangerous period,” Zoellick said in an interview with Bloomberg Television in Singapore today. While the U.S. is likely to avoid a return to recession, escaping with slow growth, the euro zone is facing a “particularly sensitive time,” he said.

Zoellick’s comments add pressure to European officials who have yet to contain a sovereign debt crisis that threatens to engulf Italy, whose government bonds in euros have tumbled for a record 11 straight days. Finland has sown division among policy makers by seeking collateral for loans to Greece, the first of the three euro-region nations to receive bailouts so far.
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