Outgoing World Bank president Robert Zoellick warned that Europe was facing a "Lehmans moment" and the collapse of the euro currency could trigger a global crisis, in an interview out Sunday.

Zoellick will warn the G20 summit that Europe risks sparking a financial meltdown that would have desperate consequences for developing countries, he told British newspaper The Observer.

"Europe may be able to muddle through but the risk is rising," the 58-year-old American said.

"There could be a Lehmans moment if things are not properly handled."

The 2008 collapse of US financial services firm Lehman Brothers -- one of Wall Street's most prestigious firms -- after its risky bets on the US housing market soured, sparked global financial panic.