Cover IMF Staff Country Reports
Euro Area Policies: 2011 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
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2011: Issue 184
Language:
English
Publication Date:
18 Jul 2011
DOI:
https://doi.org/10.5089/9781462339556.002
ISBN:
9781462339556
ISSN:
1934-7685
Pages:
49
Keywords:
ISCR; CR; euro; authority; single market; crisis; Euro Area authorities; ECB data; Plus Pact; governance framework; Euro area; financial system; interest rate; area flow; Inflation; Commercial banks; Fiscal consolidation; Global; Europe
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In this study, the risks related to the euro area sovereign debt crisis are analyzed. Methods used to implement the European Financial Stability Facility (EFSF) are overviewed, and the European Stability Mechanism (ESM), the European Systemic Risk Board (ESRB), and the European Supervisory Authority (ESA) are the important framework for financial reforms and macroprudential policies. In this paper, the improvement over the fiscal and structural governance stability and growth pact (SGP) and excessive deficit procedure (SDP) is discussed. Finally, the findings of spillover analysis are outlined.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund
Volume 2011: Issue 184