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
July 18, 2011
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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.
Subject: Banking, Commercial banks, Financial crises, Financial institutions, Financial regulation and supervision, Fiscal consolidation, Fiscal policy, Inflation, Prices, Public debt
Keywords: area flow, authority, Commercial banks, CR, crisis, ECB data, euro, Euro area, Euro Area authorities, Europe, financial system, Fiscal consolidation, Global, governance framework, Inflation, interest rate, ISCR, Plus Pact, single market
Pages:
49
Volume:
2011
DOI:
Issue:
184
Series:
Country Report No. 2011/184
Stock No:
1EUREA2011001
ISBN:
9781462339556
ISSN:
1934-7685
