Beware A Rerun Of The Great Panic Of 2008

'Beware A Rerun Of The Great Panic Of 2008': Head Of World Bank Warns Europe Is Heading For 'Danger Zone' As World Markets Suffer Bleakest Day Of The Year So Far -- Daily Mail

* Robert Zoellick: 'Far from clear leaders ready for impending catastrophe'
* Raft of dismal news from around world wreaked havoc on market
* Manufacturing output crashed in Britain, jobless up in Europe and U.S.
* Fast-emerging economies such as Brazil and China running out of steam

The head of the World Bank yesterday warned that financial markets face a rerun of the Great Panic of 2008.

On the bleakest day for the global economy this year, Robert Zoellick said crisis-torn Europe was heading for the ‘danger zone’.

Mr Zoellick, who stands down at the end of the month after five years in charge of the watchdog, said it was ‘far from clear that eurozone leaders have steeled themselves’ for the looming catastrophe amid fears of a Greek exit from the single currency and meltdown in Spain.

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My Comment: Robert Zoellick is right ... our leaders are not ready for an impending disaster. In fact .... a good number are in denial that it is happening.