OECD calls for urgent action to boost ailing global economy

Decisive policies must be urgently put in place to stop the euro area sovereign debt crisis from spreading and to put weakening global activity back on track, said OECD’s Economic Outlook published on the 28 November 2011.

The euro area crisis remained the key risk to the world economy, the Outlook said. Concerns about sovereign debt sustainability were becoming increasingly widespread. If not addressed, recent contagion to countries thought to have relatively solid public finances could massively escalate economic disruption. Pressures on bank funding and balance sheets increased the risk of a credit crunch.

• Primary Source

EUObserver, 29.11.11: OECD calls for urgent EU action, warns of credit crunch http://euobserver.com/19/114436

OECD: Economic Outlook http://www.keepeek.com/Digital-Asset-Management/oecd/economics/oecd-economic-outlook-volume-2011-issue-2_eco_outlook-v2011-2-en

OECD: Economics Department: Euro Area - Economic forecast summary http://www.oecd.org/eco/outlook/euroareaeconomicforecastsummary.htm

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