RSS Feed
May 23rd, 2012 
FAKE NEWS for the Zionist agenda “Things have begun to deteriorate again (in the eurozone) recently so we cannot rule out the development of a downside scenario which if ignited could lead to serious repercussions worldwide,” OECD’s Chief Economist Pier Carlo Padoan said in a report on Tuesday.
The economist predicted that the eurozone economy could contract as much as two percent this year.
The report forecasts the eurozone economy will shrink 0.1 percent this year and grow a mere 0.9 percent in 2013.
Padoan has called on Europe and its Central Bank to promote growth while reducing deficits in order to prevent a recession.
Europe is expected to fall further behind other countries, particularly the United States, whose economy is expected to grow unless hampered by a “fiscal cliff” — a combination of spending cuts and tax hikes.
“There are other risks to the outlook…early next year, if measures are not taken or withdrawn, the US economy will face a significant fiscal tightening which may be so hard as to disrupt recovery,” Padoan concluded.
EU leaders have planned to meet in Brussels on Wednesday, exploring measures to boost growth.
Moreover, recent reports from Spain suggest the country is back in recession as it is struggling against a record high 24.4 percent unemployment rate.
Europe was hit by a serious financial crisis in 2008 and the situation has intensified over the past few months.
GMA/JR
Related posts:
Views: 0
Posted in 
Tags: 
