Eurozone Biggest Threat To Global Economy

Rev 6:5,6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"

<blockquote>“Against all odds, the frameworks of the world’s economic, political, and social systems are being shaken and are beginning to crumble.”
<p style="text-align: right;">-Jim Bakker in “Prosperity and the Coming Apocalypse”</p>
</blockquote>

The Organization for Economic Co-operation and Development has said that eurozone problems are the single biggest risk to the global economic outlook.

“Failure to act today could lead to a worsening of the European crisis and spillovers beyond the euro area,” the OECD reported, “With serious consequences for the global economy.”

OECD predicts the economy of the seventeen nations that use the Euro will shrink slightly this year but could rebound to 0.9% in 2013.

OECD appeared to be supporting calls by the new French president to increase “funding for infrastructure projects.” The support comes just before an informal gathering of European Union leaders.

Unemployment is also expected to remain high. The current rate of 10.9% unemployment is the highest since the foundation of the euro in 1999.

 

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