Eurozone crisis biggest risk to economy: UN

08 Jun, 2012

The euro zone debt crisis is the leading danger for the global economy and any worsening will likely lead to even weaker world growth, the United Nations said in a report on Thursday. "The euro area debt crisis remains the biggest threat to the world economy," the United Nations said in an update of its "World Economic Situation and Prospects 2012."
"An escalation of the crisis would likely be associated with severe turmoil on financial markets and a sharp rise in global risk aversion, leading to a contraction of economic activity in developed countries, which would spill over to developing countries and economies in transition," the report said.

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