Weak eurozone threatens global growth: OECD

Paris

THE weak eurozone economy poses a key threat to global growth, the OECD warned on Tuesday, urging more flexibility in fiscal rules for struggling EU members like France and Italy to prevent another recession.

Forcing the two major European economies to meet the EU's tough deficit criteria "would likely depress activity further and even risk tipping the euro area into another recession", it said.

France and Italy's "slower pace of structural fiscal adjustment... proposed in their 2015 budget plans seems appropriate," said the Organisation for Economic Cooperat…