World Bank chief: No room for error in eurozone

20 October 2011

European politicians and banks need to do everything almost perfectly if an effective bailout plan is to be agreed over the coming days.

That is the opinion of Robert Zoellick, president of the World Bank, who feels that while progress has definitely been made in recent weeks towards finding a proper resolution, there is still more work to be done, Reuters reports.

Earlier this week, it emerged that finance ministers in G20 had set a deadline of this coming Sunday (23 October) for a viable plan to have been drawn up.

Despite early scepticism from involved parties, Germany and France have now pledged to come up with a package before this date.

Speaking following an event at the University of Michigan, Mr Zoellick stated that decision makers on the continent have been "more focused" on this issue.

However, he added "there's not a lot of room for error" as the crisis continues.

By Claire Archer

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