European Economy. Quarterly report on the euro area 2009.
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working document
Author
European Commission
Date
2009-03-10View/ Open
Subject headings
Economic and Financial Affairs ; Economic and Monetary UnionAbstract
The euro-area economy has entered a phase of stabilisation. Determined and concerted policy action successfully prevented the economy from falling into depression. Signs of improvement in the economic situation have become increasingly apparent since the start of this autumn. Growth in both Germany and France surprised on the upside in the second quarter and pulled the euro area up. More good news is likely to be in store as the global economic environment is improving, the inventory cycle is set to turn and further, already planned, discretionary policy measures are becoming effective. There is reason for caution, however.
Number of pages
46p.Language
EnglishDescription
http://aei.pitt.edu/id/eprint/94687Volume 8 No. 3