The World Bank has scaled back its growth forecast for the global economy in 2012, as a result of Europe's ongoing debt problems. Although the world lending institution says the eurozone crisis appears to be under control, it is warning developing countries to brace for an economic slowdown and the possibility of a deepening economic crisis.
The world's economy is expected to grow more slowly this year.
Hans Timmer, head of development projects at the World Bank, projects overall growth in 2012 at around 2.5 percent - more than a full percentage point below the bank's initial estimate.
"This will be a very slow recovery and it will take many, many years before the damage done by the great recession and the damage done
