OECD says crisis not over yet

10:10, July 12, 2011      

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The Organization for Economic Cooperation and Development (OECD) said Monday that the financial crisis still stalks the global economy and warned against complacency.

"The crisis is not over yet, it has just changed its skin, " said the OECD's secretary general Angel Gurria at an event marking the 50th anniversary of the establishment of the OECD Monday in Vienna.

Gurria stressed that many OECD member states are currently facing the problems of huge budget deficits, heavy debt burden, slow economic growth and high unemployment, which are another manifestation of the crisis.

"There are still many victims of the crisis, " he said, adding that only structural reforms and adjustment of social policies can help affected countries to overcome the crisis.

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