OECD economic surveys Euro Area [March] 2012.
OECD's 2012 Economic Survey of the Euro examines recent economic developments, policy and prospects. In addition it includes special chapters cover Euro Area imbalances and Euro Area governance and structural reforms and their short-term impact.
| Autor Corporativo: | |
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| Formato: | Libro electrónico |
| Idioma: | Inglés |
| Publicado: |
Paris :
OECD Pub
2012.
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| Colección: | OECD economic surveys : Euro area,
v. 2012/9 |
| Materias: | |
| Ver en Biblioteca Universitat Ramon Llull: | https://discovery.url.edu/permalink/34CSUC_URL/1im36ta/alma991009706253106719 |
Tabla de Contenidos:
- Table of contents; Basic Statistics of the euro area, 2010; Share in euro area GDP; Executive summary; Assessment and recommendations; The euro area sovereign debt crisis threatens the financial system and growth; Figure 1. Banking and government risk measures; The emerging recession is driven by tightening financial conditions and weak confidence; Table 1. Selected economic indicators; Figure 2. Growth by creditor and debtor countries; The crisis must be resolved by restoring confidence and dealing with the underlying causes
- Box 1. Main recommendations on resolution of the euro sovereign debt crisisMonetary policy should continue to support nominal demand through maintaining price stability while the public finances are repaired; Figure 3. Total central bank liabilities; The public finances need to be strengthened; Figure 4. Public gross debt and deficits; Box 2. Main recommendations on macroeconomic policy; An ambitious package of structural reforms is needed to boost growth and rebalance the euro area; Figure 5. Potential gains from broad reform package
- Table 2. Going for Growth priorities for euro area countriesBox 3. Main recommendations on structural reforms to boost and rebalance growth; Stronger EU fiscal, financial and structural governance is needed to create stability; Figure 6. Net foreign asset position; Box 4. Main recommendations on economic governance; Financial governance is key to preventing future imbalances; Box 5. Main recommendations on financial governance; Bibliography; Chapter 1. A sustainable euro area; Rebalancing the euro area economy; Some countries are experiencing a severe crisis
- Figure 1.1. Current account balancesSome highly-indebted countries are experiencing financial crises; Figure 1.2. Bilateral consolidated banking claims; Figure 1.3. Growth of MFI loans to non-financial corporations; Excessive imbalances contributed to weak public finances; A rebalancing of demand and activity is required across the euro area; Table 1.1. Direct fiscal impact of financial rescues; Figure 1.4. Post-crisis changes in demand; Risks to stability from imbalances remain; Figure 1.5. Net foreign asset position and net public assets; Table 1.2. Cross-border banking exposures
- Structural reforms are the foundation of sustainable rebalancingNear-term crisis management measures are needed to avoid a very abrupt adjustment and contagion; Loans from other euro area countries and funding from the ECB have avoided a "sudden stop"; Figure 1.6. Central bank liquidity to national banking systems; Strengthening euro area economic, fiscal and financial governance; Economic governance has been strengthened, but implementation risks remain; Stronger fiscal governance is envisaged at European and national levels; Box 1.1. Key reforms to Stability and Growth Pact
- Table 1.3. Scenarios for fiscal developments under EU rules
