The Organization for Economic Cooperation and Development (OECD) recently issued a warning concerning the European debt crisis and its negative effects on the recovery of global economics. While the growth in developed economies are struggling to maintain modest improvements, emerging economies are uneven and quite fragile.
 
Currently, the 11 European nation that make up 27-nation European Union are on the edge of a recession, while the eurozone as a whole saw no growth at all in the first quarter, CNN reports. This amidst fears that Greece will leave the eurozone, as a Greek bailout now seems in doubt.
 
OECD Chief Economist Pier Carlo Padoan said that debt plays the largest role in the economic crisis, explaining that our current situations “is a result of excessive debt accumulation in both the private and public sectors. One can not safely say we're out of the crisis until debt comes down to more manageable levels.”
 
The OECD however did forecast a brighter future in the United States, forecasting 2.4 percent growth for the year, which is up from a predicted 2.0 percent forecast last year.

How can we call this debt real when bankers create money fromnothing depreciating our currencies ie stealing from us,then have the audacity to charge interest on what is not theirs?

Greece and Italy should rebel and go back to their old currencies.The Central Banks have caused this mess and so should suffer the consequences.

Welcome to the threads author, have been in deep thought, and a little fear, over this for a while.
Forgive arjay, he has a habit of looking at conspiracy as an answer.
Some truth in banks haveing too much power we will continue to regret selling government banks.
The impacts of Greece leaving the ECC are unknown but fueling my concerns/fear.
Maybe two more will go,and the shock wave will impact on everyone.