The World Economy is in danger. We are on the verge of a new storm .
The world economy had entered a more dangerous stage, which doesn t let a lot maneuver possibilities to the developed countries! This warning belongs to Robert Zoellick, the president of the World Bank. He considers that the debt problem of the European countries is more alarming than consequences of the US credit rating relegation. In an interview with the Weekend Australian the president of World Bank, claims that the problems of Eurozone are threatening to destabilize the world financial markets. The official asks the European leaders to redress the situation as soon as possible, that way avoiding a new economic crisis. We are in the first moments of a new and very different storm. It s not the same as at the beginning of the 2008 crisis , warns Robert Zoellick.
The economist NourielRubini, the man who predicted the beginning of the 2008 crisis, comes with similar gloomy warning. He claims that it is a 50% chance that the world economy will slip again into a recession. There are too many debts, in the private and in the governmental sector. You can t solve the problem with liquid assets, when the debt is too high. You can save, but if everyone spends less in the public and private sector, you will get a paradox. If a lot of people save, there is not enough demand, and you will be back in the recession , believe the economist NourielRubini. At this point, the future of the world economy depends on the actions of European leaders. It is possible that we are at the beginning of a new crisis that might temporarily paralyze the rhythm of the modern economy.