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  • trollalert2013 trollalert2013 Oct 13, 2013 11:59 AM Flag

    US days away from 'dangerous' moment: World Bank

    The president of the World Bank on Saturday warned the United States was just "days away" from causing a global economic disaster unless politicians come up with a plan to raise the nation's debt limit and avoid default.

    "We're now five days away from a very dangerous moment. I urge U.S. policymakers to quickly come to a resolution before they reach the debt ceiling deadline...Inaction could result in interest rates rising, confidence falling and growth slowing," World Bank President Jim Yong Kim said in a briefing following a meeting of the bank's Development Committee.

    "If this comes to pass, it could be a disastrous event for the developing world, and that will in turn greatly hurt developed economies as well," he said.

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