Downing Street Says » OECD forecast

» Monday, October 31, 2011

OECD forecast

Asked for the Prime Minister’s reaction to the OECD downgrading its growth forecast for Europe to 0.3%, the PMS said the Treasury would be responding to this but that it reflects the ongoing uncertainty in the global economy and the crisis in the Eurozone. She referred to the Prime Minister’s comments from the weekend that good progress has been made to address the problems in the Eurozone and that as the OECD states, it is important that momentum is maintained and we look forward to seeing more detail on the Eurozone’s plans. Asked about the suggestion by Wolfgang Schauble of a Eurozone financial transaction tax, the PMS said we wanted to see global agreement on this, but if the Eurozone wanted to do something specifically for the Eurozone we would see what those proposals were.

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