Focus on euro zone crisis, avert global meltdown: PM
He warns Apec leaders of a 'self-fulfilling loss of confidence'
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HONOLULU - Singapore Prime Minister Lee Hsien Loong has urged world leaders gathered here to stay focused on the euro zone crisis, and work together to prevent a repeat of the global financial meltdown in 2008.
Addressing an economic leaders' meeting at the annual Asia-Pacific Economic Cooperation (Apec) summit, he noted that the fundamental problems in Europe remain unresolved, even if the situation appeared to have stabilised in recent days.
'The global economy is at a critical juncture,' Mr Lee said at a discussion centred on economic growth and job creation.
'Our first challenge has to be to tackle the immediate crisis (because) there's still the risk of the troubles in the euro zone escalating, precipitating in a panic run, a self-fulfilling loss of confidence which could impact far beyond Greece and Italy, far beyond Europe, and affect the whole world, including the emerging and developed economies in the Asia-Pacific region.'
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