Arab Today, arab today zoellick europe must not count on brics bailout
Last Updated : GMT 10:54:50
Arab Today, arab today
Arab Today, arab today

Zoellick: Europe must not count on BRICS bailout

Arab Today, arab today

Arab Today, arab today Zoellick: Europe must not count on BRICS bailout

Washington - AFP

World Bank President Robert Zoellick warned Monday that cash-rich emerging economic giants cannot be counted on to rescue the troubled eurozone. On the contrary, he said, the loss in confidence in the advanced economies could hit investment and consumer demand in the developing world, adding to the global economic turmoil.\"If one looks closely at the statements coming out of China or other emerging markets, there is a sense they are trying to support the developed world and particularly the eurozone at a point of crisis,\" Zoellick told journalists in a conference call. \"But that\'s different than putting up money,\" he said.There has been some talk in recent weeks that the emerging BRICS economies -- Brazil, Russia, India, China, and South Africa -- could tap their huge reserves to support Europe, being dragged toward possible recession by the debt problems of Greece, Portugal, Ireland and others. But Zoellick, who last week blasted leading advanced economies for irresponsible policies that are dragging down the rest of the world, played down any hopes for a BRICS rescue. \"Now there may be occasions where sovereign funds may be willing to make various investments, they put their money for example in various assets,\" he said. \"But you also see the hesitancy in voices out of China about putting the money that\'s been hard-earned by people who have a per capita income of $4,000 and bailing out Europe. So I just don\'t think that\'s going to happen.\"He added that the BRICS themselves were threatened by the problems in Europe and the United States. \"Developing countries have less fiscal space than in 2008 to counter a downdraft,\" he said. \"The drop in markets and confidence could prompt slippage in developing countries\' investment, and a pull-back by the consumers too. A fall in developing countries\' demand would mean would mean we\'d lose their economic engines as drivers of global recovery.\" \"We need to watch out, especially if the eurozone and the US remain off course.\" Zoellick was speaking ahead of this week\'s meetings of the World Bank and the International Monetary Fund in Washington, where the eurozone crisis is expected to be a key topic of discussion.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today zoellick europe must not count on brics bailout Arab Today, arab today zoellick europe must not count on brics bailout

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today zoellick europe must not count on brics bailout Arab Today, arab today zoellick europe must not count on brics bailout

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Italy regions back 'big bang' autonomy

GMT 07:10 2017 Monday ,23 October

Italy regions back 'big bang' autonomy
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Syrian children die of hunger

GMT 19:25 2017 Sunday ,22 October

Syrian children die of hunger
Arab Today, arab today Maltese demand justice for murdered

GMT 06:08 2017 Monday ,23 October

Maltese demand justice for murdered
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla to build wholly-owned plant

GMT 07:55 2017 Monday ,23 October

Tesla to build wholly-owned plant
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Rogina happy for reactions to “The Flood”

GMT 09:30 2017 Friday ,20 October

Rogina happy for reactions to “The Flood”
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:07 2017 Sunday ,22 October

15,000 Under Fives Die

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday