Euro Area Policies: 2008 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Member Countries
August 4, 2008
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This 2008 Article IV Consultation on euro area policies highlights that 10 years after its launch, monetary union is a distinct success and the euro area a zone of stability in the international economy. However, economic union remains work in progress. Improved wage setting and labor market reforms have contributed to the creation of some 16 million jobs over the past decade. Similarly, the single market program and product market reforms have raised productivity in affected sectors. The outlook for financial stability is highly uncertain, although the area’s financial system remains sound.
Subject: Banking, Financial sector policy and analysis, Financial sector stability, Food prices, Inflation, Labor, Price stabilization, Prices
Keywords: area flow, area trade, CR, euro, Euro area policy, Europe, Financial sector stability, Food prices, Global, headline inflation, Inflation, ISCR, member state, monetary policy stance, Price stabilization, rate
Pages:
62
Volume:
2008
DOI:
Issue:
262
Series:
Country Report No. 2008/262
Stock No:
1EUREA2008001
ISBN:
9781451813081
ISSN:
1934-7685
