World Economy is getting into Danger Zone Once Again

The World Bank chief Robert Zoellick stated last Wednesday that the world has got into a new financial crisis zone. He recommended that Europe, Japan and the United States should take early initiatives to prevent pulling down the international economy. He also warned that if large economical territories like Europe, Japan and the United States don’t take proper steps to avoid this fall, this will pull down the global economy also. He also added that in past they took too long time to take proper decisions. So they are now out of options and got left a few painful strategies. In the meeting on global finance and development leader will focus on Europe’s debt crisis and the Greek issue. This will surely raise an alarm in global markets. Some European leaders pointed that the Euro zone nations will fail the reach an agreement to tackle the current situation. The European countries were fighting off challenging facts regarding their typical duties. Japan need economic and social reforms but they postpone and political variations in the United States had been surpassed initiatives to reduce record budget deficits. Some countries asked China to play the role of global stakeholder and soon they will start to work on their specific economic difficulties. Mr. Zoellick also said that rising economies are very much active in these changing trends. They are playing their part to hold the control of world economy. So, surely it’s a challenging fact for the consisting mega economical powers. Wasn’t this situation obvious for large economies? They embedded economic rules and regulations around the world but couldn’t stop their increasing budget deficit. They recommended financial debt sustainability, though their very own debts had been at record high. World Bank chief indicated that it’s too late to recover the mistakes.