OECD and Moody’s Warn of Eurozone Recession

OECD and Moody’s warn of the rising threat of Eurozone default and recession.

The OECD reduced its growth forecast for the Eurozone and stated in a report that “recent contagion to countries thought to have relatively solid public finances could massively escalate economic disruption if not addressed.”

Meanwhile, US rating agency Moody’s warned that the risk of default for a series of EU-members is no longer negligible.