Greek debt default fears persist

World entering economic danger zone, with possibility of a debt default increasing, World Bank head says.

    Robert Zoellick, the head of the World Bank, has said that the world is entering a new economic danger zone, and that Europe, Japan, the US and other countries should take responsibility for the current debt crisis.

    The European Union, meanwhile, has sent out a stern warning against a Greek default, saying that their default or exit from the Eurozone would affect all EU member states as well.

    Nicholas Sarkozy, the French president, and Angela Merkel, the German chancellor, held a teleconference with Georgios Papandreou, the Greek prime minister, to discuss the crisis on Wednesday. They stressed that Greece is an integral part of the Eurozone and its recent measures would see it meet its targets. 

    Al Jazeera's Nadim Baba reports from Athens on the Greek government's debt woes.

    SOURCE: Al Jazeera


    YOU MIGHT ALSO LIKE

    Survivor stories from Super Typhoon Haiyan

    Survivor stories from Super Typhoon Haiyan

    The Philippines’ Typhoon Haiyan was the strongest storm ever to make landfall. Five years on, we revisit this story.

    How Moscow lost Riyadh in 1938

    How Moscow lost Riyadh in 1938

    Russian-Saudi relations could be very different today, if Stalin hadn't killed the Soviet ambassador to Saudi Arabia.

    We Are Still Here: A Story from Native Alaska

    We Are Still Here: A Story from Native Alaska

    From Qatar to Alaska, a personal journey exploring what it means to belong when your culture is endangered.