Share Tweet Pocket Add to Bookmarks
You're reading: OECD: Recession ‘taking hold’ in eurozone
Popular
on social media

An interim report from the OECD released Thursday predicts that even the eurozone’s powerhouse, Germany, could to slip into recession by the end of the year.

In May, the OECD said that the 17-country eurozone could contract by as much as 2 percent this year. Thursday’s assessment didn’t offer a comparable prediction. Instead, the report predicts the three largest euro economies — Germany, France and Italy — will shrink by 0.2 percent this year.

Chief economist Pier Carlo Padoan said he was waiting “anxiously” for details on the European Central Bank’s plan due later Thursday on buying government bonds to help alleviate the crisis. 

Subscribe now

In a world of fake news we help you keep it real and accurate.

See All Plans
$5.95
Monthly plan
Get unlimited article access, anytime, anywhere.

Subscribe
$60
Yearly plan
Access all the exclusive content on KyivPost.com and the complete online archive.
Subscribe
Advertisement

Add comment

Sorry, you must be logged in to post a comment.
More in this section
Attention

Add a picture
Choose file
Add a quote
Attention

Are you sure you want to delete your comment?

Attention

Are you sure you want to delete all user's comments?

Attention

Are you sure you want to unapprove user's comment?

Attention

Are you sure you want to move to spam user's comment?

Attention

Are you sure you want to move to trash user's comment?

Spelling error report

The following text will be sent to our editors: