Electronic format: Acrobat PDF
The 2010 edition of OECD's periodic review of the Euro area economy. This edition includes chapters covering exiting from the crisis, resolving unsustainable imbalances, rebuilding public finances and fiscal discipline and minimising risks from imbalances in European banking.
Table of contents:
Basic statistics of the euro area (2009) Executive summary Assessment and recommendations Chapter 1. Exiting from the crisis -The financial crisis triggered a severe recession -Policy support has helped to stabilise the economyand encourage recovery -A moderate recovery is under way -A coherent approach to economic governance is required at euro area, EU and national levels Chapter 2. Resolving and avoiding unsustainable imbalances -Large and persistent external imbalances built up during the upswing -External balances have been driven by internal economic and financial imbalances -Measure to restore stability in the near and longer term are needed at European and national level -Annex 2.A1. Net financial assets by sector Chapter 3. Rebuilding the public finances and fiscal discipline -Fiscal consolidation is required -Sound fiscal policy would contribute to more effective economic stabilisation -Strengthening fiscal discipline Chapter 4. Minimising risks from imbalances in European banking -The bank lending cycle was unsustainable and contributed to imbalances -Upgrading regulation and supervision to reduce risk Glossary