Cover IMF Staff Country Reports
Euro Area Policies: 2009 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Member Countries
Author: International Monetary Fund
Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2009: Issue 223
Language:
English
Publication Date:
30 Jul 2009
DOI:
https://doi.org/10.5089/9781451813098.002
ISBN:
9781451813098
ISSN:
1934-7685
Pages:
59
Keywords:
ISCR; CR; euro; authority; government; Euro Area authorities; EU banking; headline inflation; financial system; central bank; EU authorities; Financial sector stability; Credit; Central bank policy rate; Covered bonds; Global; Europe
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This 2009 Article IV Consultation focuses on euro area policies. The euro area remains in recession, with signs of improvement yet to evolve into a recovery. The large drop in financial wealth, an associated increase in private savings, tight financing conditions, and the adjustment of global imbalances are key drivers of the economic decline. Executive Directors have welcomed the broad arsenal of macroeconomic policies and financial sector interventions deployed by euro area authorities and Member States to address the crisis.
Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund