OECD cuts eurozone growth forecast and warns of external risks

The OECD has cut its global growth expectations again and warned that the eurozone faced not just internal challenges but also risks from the US and emerging market economies.

It raised a red flag over deflation and called on the ECB to consider printing money through quantitative easing — a move the bank has so far resisted.

Ireland got several mentions during the launch of its global economic outlook, being held up as an example of a country for which reforms, especially cutting labour costs, was paying off.