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Wednesday November 30, 2011 19:20 by Mark Weisbrot - The Guardian
If the ECB and European authorities stick with their suicidal doctrine of austerity, then the Federal Reserve must intervene. [Italiano] The economic news out of the eurozone is getting worse every day, and so is the contagion to the rest of the world. The OECD (Organisation for Economic Cooperation and Development), the club of 34 mostly high-income countries, has now lowered its projection for eurozone growth for 2012 from 2% (in May) to just 0.2%. According to their report, the 17-member eurozone economy already "appears to be in a mild recession". For the US, the forecast for next year was lowered from 3% to 2.1%. |
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