Eurozone warned 'severe recession' looming (click here)
AP Business Writer
Published Tuesday, May 22, 2012
PARIS —
The 17-country eurozone risks falling into a "severe recession," the Organization for Economic Cooperation and Development warned on Tuesday, as it called on governments and Europe's central bank to act quickly to keep the slowdown from dragging down the global economy.
OECD Chief Economist Pier Carlo Padoan warned the eurozone economy could contract by as much as 2 percent this year, a figure that the Paris-based think tank had laid out as its worst-case scenario in November.
In its twice-yearly global economic outlook, the OECD - which comprises the world's most developed economies - said its average forecast was for the eurozone economy to shrink 0.1 percent this year and grow a mere 0.9 percent in 2013....
The USA is doing well when compared to the global economy. The Pro-Growth policies work where austerity simply prolongs any recovery and places danger of a greater recession in the percentages of reality.
The OECD (click here) has been around for a long time, they don't make policy, they concentrate on economies and quality of life. It obviously makes recommendations, but, they are based in qualitative studies. They have studied the economics of the world since 1961, the time of President Kennedy and his Peace Corps.
There can't be dispute President Obama is doing better than holding his own when it comes to touting economic recovery under his first term in office. His policies have been very aggressive and work. He has not pandered to those that caused this global depression , but, have not been draconian in policy making that would destroy Wall Street. There has to be a balance and I sincerely believe President Obama has found that balance with ease. His influence with the G8 was more than impressive and we may see growth in the Eurozone in the not too distant future. I congratulate all the European leaders for bravely moving in the direction of growth even though it seems counter-intuitive.
There can't be dispute President Obama is doing better than holding his own when it comes to touting economic recovery under his first term in office. His policies have been very aggressive and work. He has not pandered to those that caused this global depression , but, have not been draconian in policy making that would destroy Wall Street. There has to be a balance and I sincerely believe President Obama has found that balance with ease. His influence with the G8 was more than impressive and we may see growth in the Eurozone in the not too distant future. I congratulate all the European leaders for bravely moving in the direction of growth even though it seems counter-intuitive.
