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Wednesday, September 14, 2011

UPDATE 2-World Bank chief says world economy in danger zone | Reuters

UPDATE 2-World Bank chief says world economy in danger zone | Reuters: Unless Europe, Japan, and the United states can also face up to responsibilities they will drag down not only themselves, but the global economy," Zoellick said in speech at George Washington University.

"They have procrastinated for too long on taking the difficult decisions, narrowing what choices are now left to a painful few," he said ahead of meetings of the World Bank and International Monetary Fund next week.

His bluntly-worded speech highlighted mounting fears among global policymakers about an escalating sovereign debt crisis in Europe, which has for now overshadowed investor concerns about public finances and reforms in the United States and Japan.

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