Associated Press
Tuesday, May 22, 2012
PARIS — The leaders of the 27 countries that make up the European Union are to meet in Brussels today to try to find a way to keep the debt crisis in Europe from spiraling out of control and to promote jobs and growth.
On Tuesday, the Organization for Economic Cooperation and Development warned that the 17 countries that use the euro risk falling into a "severe recession."
It called on governments and Europe's central bank to act quickly to keep the slowdown from dragging down the global economy.
However, switching the conversation from slashing budgets to promoting growth won't be easy. And actually producing growth will be even harder.
WHAT'S ON THE AGENDA
For the past few years, fiscal austerity was all anyone ever talked about in Europe. For many people, austerity meant layoffs and pay cuts for state workers, scaled-back ...