Published on Oct 31, 2011 by Euronews
http://www.euronews.net/ The Organisation for Economic Cooperation and Development is forecasting a sharp slowdown next year for the euro zone.
Its downbeat outlook came just days before a summit of leaders of the G20 world's largest economies.
The OECD warned if those leaders fail to restore confidence in battered state finances it could lead to a major contraction in developed countries.
The economic think-tank has dramatically slashed its growth forecast for next year for the euro area to 0.3 percent; back in May it was talking about two percent.
Its downbeat outlook came just days before a summit of leaders of the G20 world's largest economies.
The OECD warned if those leaders fail to restore confidence in battered state finances it could lead to a major contraction in developed countries.
The economic think-tank has dramatically slashed its growth forecast for next year for the euro area to 0.3 percent; back in May it was talking about two percent.
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