|OECD warns of eurozone contagion risk|
| European leaders need to provide “credible and large enough firepower” to halt the sell-off in the eurozone sovereign debt market or they will risk a severe recession, according to the chief economist of the Organisation for Economic Co-operation and Development.|
The warning came as the organisation slashed its half-yearly forecasts for growth within the world’s richest countries, and said activity in Europe would grind to a near-halt.
Monday, November 28, 2011
Posted by Michele Kearney at 8:05 AM