U.S. JUST DAYS AWAY FROM 'VERY DANGEROUS MOMENT'

REUTERS October 13, 2013
L

Reuters World Bank President Jim Yong Kim addresses the plenary session at the start of the annual IMF-World Bank fall meetings in Washington, October 11, 2013. REUTERS/Jonathan Ernst

WASHINGTON (Reuters) - 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.
(Reporting by Anna Yukhananov and Lidia Kelly; Editing by Andrea Ricci)
 
http://au.news.yahoo.com/world/a/19369574/u-s-just-days-away-from-very-dangerous-moment-world-bank/