World Bank chief : economy in danger zone

World Bank president Robert Zoellick said the world had entered a new economic danger zone and Europe, Japan and the US all needed to make hard decisions to avoid dragging down the global economy. “Unless Europe, Japan, and the US can also face up to responsibilities they will drag down not only themselves, but the global economy,” Zoellick said. Zoellick said European countries were resisting difficult truths about their common responsibilities, Japan had held off on needed economic and social reforms, and political differences in the United States were overshadowing efforts to cut record budget deficits, according to media reports.