A Strong Danger of Recession for Countries in Euro Zone
According to a report of the Organization for Economic Cooperation and Development that came out last week, there is a warning that all the seventeen countries which are a part of the euro zone are under a threat of getting into the trap of recession on a very worst level. It has given a suggestion to the governments as well as the central bank of Europe that they must take some quick action so that the slow growth of the economy of the global level can be brought into some good condition and that too as soon as possible.
Pier Carlo Padoan, Chief Economist of the OECD has issued a warning the economy of the countries of the euro zone could make a contraction by more than an amount of 2 per cent in the present year that 2012. This is the figure that has been put up by the organization that is going to come in the month of November when the economy of the world is going to face the worst situation. This organization has its base in Paris. The organization in its global economic outlook which it comes out with, every six months, it takes into consideration the trend of the economy of the world of all the developed economies.
The officials had to say that in an average forecast the economy of the countries of the euro-zone is going to shrink by 0.1 per cent in the present year and then grow quite a little by the year 2013. Before the release of the report, Padoan informed the reporters that what they are seeing today is that the condition of the countries of the euro area is only going to come downwards. And if thing really happens then a severe trouble of recession will be settling in this region which is also going to show its ill-effects on the other parts of the world as well. Avail quick funds through text loan lenders @ http://www.textloanlenders.org.uk/ & solve all your fiscal worries in quick time.
The report also says that Europe is even behind other countries mainly behind the United States Of America. It is expected that the economy of the US is going to see an increase of 2.4 per cent in the year 2012 as an increase of 2.6 per cent in the year 2013. Padoan also said that the trend in between the US as well as the euro area is diverging where the condition of the US is getting better on a faster pace while it is not so the case of the euro area.
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