World Bank president warns against protectionism

World Bank president warns against protectionism
Tuesday, August 16, 2011 - 8:11am

The world bank has called on individual governments to seek a long term debt curb to solve the current debt crisis in Europe and the U.S. Eurozone nations have battled to contain a debt crisis that threatens to enter a dangerous new phase by engulfing larger nations on the region's periphery.

The European central bank was forced to step in last week and buy Italian and Spanish bonds to calm nervous markets. World Bank President Robert Zoellick told reporters in Australia tuesday it is time to push a free trade agenda, warning against rising protectionism as nations seek to solve the debt crisis.

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