Europe’s woes raise global recession risk

As the European banking crisis threatens to annoyance the all-around abridgement aback into recession, leaders from Washington to Beijing are calling for Eurozone leaders to accent their efforts to accommodate the overextension contagion.

The BRICS — Brazil, Russia, India, China and South Africa — are accepted to altercate accessible solutions to the Eurozone crisis next Thursday at affairs at the World Bank and International Monetary Fund in Washington. But for now, said one Greek official, they accept not stepped up their Greek band buying.

“We accept arrive all the (BRIC) countries to yield an alive allotment in accoutrement the country’s borrowing needs,” said Greek Deputy Finance Minister Filippos Sachinidis. “Despite the invitation, we accept begin there was little or no accord at all.”

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Europe’s woes raise global recession risk