According to news agency Reuters, the warning was delivered by the World Bank's chief economist, Justin Lin, in Beijing today. "The crisis of government debt in the euro zone may be insurmountable. But there is a real risk of decline in global markets and the global crisis similar to what happened in September 2008," Lin said.
World Bank reveals that Europe is likely to have entered into a new recession. When the debt crisis in the eurozone is sustainable, global growth is expected to continue to decline.
The World Bank also recently revised its forecasts for economic growth. Growth in 2012 and 2013, which was estimated respectively by 3.6 percent, now rectified become lower, at 2.5 percent and 3.1 percent.
"We think now it is important to carefully think about not only slows growth but also a sharp decline," said Hans Timmer, director of development prospects at the World Bank.
In addition to the debt crisis in Europe, the World Bank also warned of other problems, such as high debt and budget deficits in Japan and the U.S.. In addition it should be wary of slowing economic growth in some developed countries. The problems that can cause sudden shocks to the global economy.
Political tensions in the Middle East and North Africa could disrupt the distribution of crude oil. Problems that can add a great blow to the world economy.
