OECD sees growth threat from eurozone deficits

The OECD warned on Tuesday 27 July in its latest survey of the eurozone that high deficits, such as those faced by France and Germany, are the eurozone's biggest economic problem.

"The most acute macroeconomic policy challenge relates to fiscal consolidation and co-ordination, which is vital for the single currency, but currently under stress," the OECD said in its latest survey of the eurozone.

It said support for the stability and growth pact has been diluted, and the credibility of enforcing

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