Euro Area Policies: 2012 Article IV Consultation: Selected Issues Paper

Author: International Monetary Fund

Volume/Issue: Volume 2012 Issue 182

Publication date: July 2012

ISBN: 9781475505788

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , ISCR , CR , bank , yield , market , euro , ECB intervention , ECB debt purchase , SGP rule , ECB seniority , government bond , ECB debt swap , ECB bond holding , Bond yields , Sovereign bonds , Bonds , Yield curve , Global , Europe , Asia and Pacific , Western Europe

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Summary

This 2012 Article IV Consultation—Selected Issues Paper on Euro Area Policies argues that the creation of a common eurozone financial stability architecture is an immediate priority to restore the viability of the Economic and Monetary Union. The paper presents a narrative of the various stages of the banking and sovereign crisis since the Summer of 2011. It also characterizes the downward spirals at play in periphery euro area countries and describes the process of financial de-integration within the euro area.