"Grave risk" world trade talks to fail: WTO's Lamy

WASHINGTON (Reuters) - Nearly a decade worth of work to reach a world trade deal is on the verge of "failure," World Trade Organization Director General Pascal Lamy said on Saturday in a plea for countries to rise above their own narrow interests for the good of the global economy.

"The WTO system is in grave risk of not being able to conclude a round started almost 10 years ago," Lamy told members of the International Monetary Fund just a few months after Group of 20 leaders urged negotiators to strike a deal by the end of this year in the long-running talks.