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OECD Announces "slight recession" in eurozone
posted on: Nov 29 2011 7:47 by RDugey. Viewed 45 times.
The eurozone seems to have entered "slight recession" and the worsening of the debt crisis could have consequences "devastating" for the global economy, warned yesterday Monday the OECD, which failed to tarnish the bullish euphoria of the bags.
President, Barack Obama, said yesterday Monday that United States is ready to "help" to Europe with its debt crisis, after a meeting with leaders of the bloc European.
"United States is ready to do its part to help (Europe) to resolve this issue", said Obama after a Summit at Casa Blanca.
United States also praised the European will give "all necessary steps" to end the debt crisis in the EU, according to a joint communiqué at the end of a meeting of leaders of the bloc with Obama.
The Organization for cooperation and economic development (OECD) published yesterday Monday new twice-yearly forecasts that u000arevises downward the growth of the industrialized countries, in particular, that of the euro area, which has entered "slight recession" in the last quarter of the year and is expected to virtually zero growth for the next
The major economies, Germany, France and Italy, are not saved.
The OECD warns that a worsening of the situation is likely, which would have "very devastating" effects for the rest of the industrialized countries, with United States and Japan to the head. OECD urges the European Central Bank (ECB) to "act now" to prevent the spread of the crisis. "to do their part to help (Europe) to resolve this issue", said Obama after a Summit at Casa Blanca.
United States also praised the European will give "all necessary steps" to end the debt crisis in the EU, according to a joint communiqué at the end of a meeting of leaders of the bloc with Obama.
The u000aOrganization for cooperation and economic development (OECD) published yesterday Monday new twice-yearly forecasts that revises downward the growth of the industrialized countries, in particular, that of the euro area, which has entered "slight recession" in the last quarter of the year and is expected to virtually zero growth for the next
The major economies, Germany, France and Italy, are not saved.
The OECD warns that a worsening of the situation is likely, which would have "very devastating" effects for the rest of the industrialized countries, with United States and Japan to the head. The OECD urged the European Central Bank (ECB) to "act now" to prevent the spread of the crisis.
The EURO can collapse
the euro could break down in a matter of days, warned analysts at the start of a crucial week of auctions of bonds of the countries of the zone, but European leaders u000athey tried yesterday to save the common currency. Meanwhile, it seemed to strengthen the idea of the eurozone countries to yield control of large items of their budgets in favour of a central authority. At the meeting of the EU's December 9 it is believed that there will be a solution to the crisis.
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