The Organization for Economic Co-operation and Development (OECD) on Tuesday downgraded the economic outlook for Eurozone this year, but remained optimistic over the economy's prospects in 2013.
OECD said the euro area economy may contract 0.1 percent in 2012, compared to the 0.2 percent growth projected in November.
The group expects the economy to return to growth in 2013. OECD also noted that the European Central Bank has room for further monetary easing, if needed.
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