News release: “The euro area is now recovering from a severe recession, but the build-up of large economic, fiscal and financial imbalances demands a coherent and forward-looking reform agenda, according to a new OECD report. The OECD’s latest Economic Survey of the Euro Area, presented today in Brussels by OECD Deputy Secretary-General and Chief Economist Pier Carlo Padoan, confirms that a moderate recovery is underway. The OECD forecasts annual economic growth of 1.5% to 2% over the coming two years.”