Europe’s Recovery is Fragile, Says the OECD
The recovery taking root in eurozone economies is fragile, says the OECD. It noted that Europe is falling significantly behind the United States and Canada’s own recoveries, predicting that France and Italy will suffer a contraction in the first quarter and that Germany will grow a mere 0.1%.
Accordingly, it said central banks should keep interest rates low. It also advised that eurozone nations increase the size of their rescue funds – especially given the possibility of Spain’s imminent need for economic relief.