Recession ‘taking hold’ in Eurozone, OECD says

Published September 6, 2012 10:41am ET



PARIS (AP) — Europe’s debt crisis is pushing the 17-country eurozone toward recession and dragging down the global economy, the Organization for Economic Cooperation and Development said Thursday.

Even growth in traditional economic powerhouse Germany is slowing, and the OECD’s interim assessment said that Europe’s largest economy could slip into recession by the end of the year.

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