Euro Area Policies: Selected Issues Paper
July 25, 2013
Download PDF
More Formats on IMF eLibrary
Order a Print CopySummary
This Selected Issues paper on Euro Area Policies 2013 Article IV Consultation highlights the monetary transmission mechanism and monetary policies. The European Central Bank has announced the Outright Monetary Transactions framework to address severe distortions in sovereign bond markets and safeguard monetary transmission. The cost of unsecured bond issuance remains elevated for both core and periphery banks, but there is a growing divergence between the two, driven mainly by rising periphery spreads. Weak growth and high levels of private balance sheet debt in the periphery are weighing on the health of bank balance sheets.
Subject: Banking, Collateral, Credit, Export performance, Exports, Financial institutions, Financial statements, International trade, Money, Private debt, Public financial management (PFM)
Keywords: bank, Collateral, CR, Credit, debt reduction, debt restructuring, debt sustainability, deflation dynamics, euro, euro area, export, Export performance, Exports, Financial statements, Global, household debt, ISCR, lending, lending rate
Pages:
72
Volume:
2013
DOI:
Issue:
232
Series:
Country Report No. 2013/232
Stock No:
1EUREA2013013
ISBN:
9781484347850
ISSN:
1934-7685
