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OECD: Restructuring of Banks Required

Politics ♦ Published: November 19, 2013; 13:09 ♦ (Vindobona)

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The Organization for Economic Cooperation and Development (OECD) calls for a fast progress in the establishing of a banking union in the Eurozone and restructuring of the banking sector to boost economic growth.

OECD: Restructuring of Banks Required / Picture: © Vindobona.org

According to the OECD’s recent semi-annual economic outlook, the growth rate in the Eurozone will accelerate to 1.6 percent until 2015. However, the organization pointed out that the speed of economic recovery will be reduced. Moreover, the downward risks outweigh the growth tendencies.According to OECD, fiscal consolidation is expected to continue in the Eurozone. Nonetheless, the…