Global growth is set for a sharp slowdown next year and the eurozone debt crisis "remains the greatest threat to the world economy at present," the OECD warned on Tuesday.
A woman buys vegetables at a market in Hamburg. The OECD cut on Tuesday its growth forecasts for the United States, Japan and the eurozone, and warned that the 17-nation bloc's debt crisis was now the "greatest threat to the world economy."
In its latest Economic Outlook, drafted before the eurozone and IMF unblocked almost 44 billion euros ($57 billion) in emergency loans for Greece, the OECD also cautioned that "the risk of a new major contraction cannot be ruled out" after a global slump in 2009.
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