Abstract

This chapter tries to summarize lessons learned from the 2008/09 crisis and the subsequent recovery, not least with a view to ascertaining to what extent corrective policies have fortified emerging Europe’s resilience. The region’s ability to cope with the pressures from the euro area crisis, which was ongoing at the time of writing, is an early “real live test” in this regard.

An Account by the Staff of the IMF's European Department
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