Euro-area seen as biggest threat to global growth

TOKYO: The euro-area remains the biggest threat to global growth as imbalances still need to be addressed, said Organisation for Economic Cooperation and Development chief economist Pier Carlo Padoan.

“The weaknesses of the euro-area are still a source of concern,” Padoan said in a Bloomberg Television interview in Cernobbio, Italy on Saturday. “We can have a way out in Europe having reforms taking place not only in the debt countries but in all of the countries, including Germany, which should invest and open more.”