Europe's debt crisis is pushing the 17-country Euro-zone toward recession and dragging down the global economy, the Organization for Economic Cooperation and Development said in a report.
Economic policy should be better designed to bring about more inclusive growth, ensuring that the benefits of increased prosperity are shared more evenly across society, according to a new report from the OECD and the World Bank.
The United States and Japan are leading a fragile economic recovery among developed countries that could yet be blown off course if the Euro zone fails to contain its flaring growth crisis, the OECD said on Tuesday.
The outlook for economic growth in developed countries has got much worse in the last three months, the OECD said Thursday, urging leaders of G7 and G20 countries to send strong signals to restore flagging confidence.
The global economic recovery is slowing faster than forecast, but a return to recession is unlikely, a leading global economic group has said. The Organisation for Economic Co-operation and Development (OECD) said the slowdown had been more pronounced than anticipated.