{"id":4421,"date":"2020-03-17T13:20:06","date_gmt":"2020-03-17T13:20:06","guid":{"rendered":"https:\/\/www.sportsnewsforyou.com\/?p=4421"},"modified":"2020-03-17T13:20:06","modified_gmt":"2020-03-17T13:20:06","slug":"oecd-chief-pushes-for-e1-trillion-rescue-fund","status":"publish","type":"post","link":"https:\/\/googmn.com\/?p=4421","title":{"rendered":"OECD chief pushes for \u20ac1 trillion rescue fund"},"content":{"rendered":"<figure class=\"art\"><\/figure>\n<header>\n<h1>OECD chief pushes for \u20ac1 trillion rescue fund<\/h1>\n<p class=\"subhead\">Organisation calls for ambitious programme of reforms to boost eurozone economies.<\/p>\n<p>Click Here: <a href='https:\/\/www.storeafl.com\/brisbane-lions-mens-home-guernsey-2019.html' title='brisbane lions guernsey 2019'>brisbane lions guernsey 2019<\/a><br \/>\n                    <\/header>\n<footer class=\"meta\">\n<p class=\"byline\">European Voice<\/p>\n<\/footer>\n<footer class=\"meta\">\n<p>\n\t\t\tBy\t\t\t<span class=\"byline\"><br \/>\n\t\t\t\t<span class=\"vcard\">Ian Wishart<\/span>\t\t\t<\/span>\n\t\t<\/p>\n<p class=\"timestamp\"><time datetime=\"2012-03-27T05:35:16+00:00\">3\/27\/12, 5:35 AM CET<\/time><\/p>\n<p class=\"updated\">Updated <time datetime=\"2014-04-12T23:00:06+00:00\">4\/12\/14, 11:00 PM CET<\/time><\/p>\n<\/footer>\n<p>The head of the Organisation for Economic Co-operation and Development (OECD) has said that the eurozone still faces \u201cdaunting\u201d challenges and that its rescue fund should be doubled to \u20ac1 trillion.<\/p>\n<p>Angel Gurr\u00eda, the OECD\u2019s secretary-general, made his announcement as he presented the organisation\u2019s economic surveys of the European Union and eurozone today (27 March).<\/p>\n<p>Gurr\u00eda said that countries\u2019 current level of commitment to the eurozone\u2019s firewall was \u201cnot enough to restore market confidence\u201d.<\/p>\n<p>The lending capacity of the European Stability Mechanism (ESM), the permanent rescue fund,&nbsp;is capped at \u20ac500 billion but finance ministers are to meet on Friday (30 March) to discuss whether to raise that level.<\/p>\n<p>Angela Merkel, Germany\u2019s chancellor, accepted for the first time yesterday (26 March) that the ESM could be merged temporarily with the European Financial Stability Facility (EFSF) to bring the firewall up to about \u20ac700bn.<\/p>\n<p>However, this would still fall some way short of the OECD\u2019s recommendation, as well as that of the European Commission, which favours an option that would bring the lending capacity up to \u20ac940bn.&nbsp;<\/p>\n<p><H3>&#8216;Daunting challenges&#8217;<\/H3><\/p>\n<p>The two OECD reports show that steps taken in some of the eurozone\u2019s struggling countries, notably Greece, Italy, Portugal and Spain, were having an impact but, Gurr\u00eda said, \u201cthe challenges remain daunting\u201d.<\/p>\n<p>The OECD said that the economic, fiscal and financial imbalances of the eurozone had led to weak bank balance-sheets, high unemployment and low growth.&nbsp; <BR>&nbsp;<BR>\u201cWeak financial conditions, fiscal consolidation and economic adjustment are restricting demand in the short-term before the long-term benefits on stability and growth are felt,\u201d Gurr\u00eda said.<\/p>\n<p>In the reports the OECD calls for \u201can ambitious programme of reforms\u201d in product and labour markets, tax systems and education to rebalance the economies, restore competitiveness, boost growth and bring down high levels of unemployment \u2013 particularly among the young.&#8221; <\/p>\n<p>\u201cEurope is stalling. It needs to get out of first gear and make growth the number one priority,\u201d Gurr\u00eda added.<\/p>\n<p>&nbsp;<\/p>\n<\/p>\n<footer class=\"content-credits\">\n<h6>Authors:<\/h6>\n<dl class=\"vcard\">\n<dt class=\"credits-author\"><span class=\"vcard\">Ian Wishart<\/span>&nbsp;<\/dt>\n<\/dl>\n<\/footer>\n","protected":false},"excerpt":{"rendered":"<p>OECD chief pushes for \u20ac1 trillion rescue fund Organisation calls for ambitious programme of reforms to boost eurozone economies. Click Here: brisbane lions guernsey 2019 European Voice By Ian Wishart 3\/27\/12, 5:35 AM CET Updated 4\/12\/14, 11:00 PM CET The head of the Organisation for Economic Co-operation and Development (OECD) has said that the eurozone&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-4421","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/googmn.com\/index.php?rest_route=\/wp\/v2\/posts\/4421","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/googmn.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/googmn.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/googmn.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/googmn.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4421"}],"version-history":[{"count":0,"href":"https:\/\/googmn.com\/index.php?rest_route=\/wp\/v2\/posts\/4421\/revisions"}],"wp:attachment":[{"href":"https:\/\/googmn.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/googmn.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/googmn.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}