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The crisis has shown the vulnerability of a global economy based on the idea that ever increasing production and consumption were the key to success, says OECD Secretary-General Angel Gurría.
Angel Gurría was in Helsinki for a two day official visit to attend the Solemn Seminar which marked 40 years of Finnish membership to the OECD. He also met with several government officials, business and trade unions representatives to discuss a range of key policy issues.
Nigel Pain, OECD Senior Economist, on the Challenges facing the Euro Area Economy
According to Mr. Gurría, the first decade of Economic and Monetary Union (EMU) has been a success, but the onset of recession amid ongoing financial turmoil has created new challenges for monetary and fiscal policy implementation, liquidity management and the regulation and supervision of European financial institutions.
Website of the Estonian Ministry of Foreign Affairs, with information on the OECD (in Estonian).
Many Asian countries will need to reform their pension systems in order to deliver sustainable and adequate retirement incomes for today’s workers, according to a new OECD report.
The OECD will release Financial Market Trends No. 95 on the OECD's password-protected website at 11.00 a.m. Paris time (10.00 a.m. GMT) on Thursday 8 January 2009 for immediate release (in English only).
Young people in Japan are finding it increasingly hard to get stable jobs and the Japanese authorities should expand vocational training schemes and increase social security coverage for young non-regular workers in order to help them.
Israel has officially joined the OECD Working Group on Bribery, an important step in its accession to OECD membership. Israel becomes the 38th signatory and first Middle-Eastern country to join the OECD’s Anti-Bribery Convention.
While political will is necessary to tackle climate change, financial measures are needed to keep down the cost of action. According to Angel Gurría, "Ministers of Finance share a common responsibility to help shape cost-effective policies to respond to climate change."