Euro Area Policies: Staff Report for the 2006 Article IV Consultation

Author: International Monetary Fund

Volume/Issue: Volume 2006 Issue 287

Publication date: August 2006

ISBN: 9781451813043

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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.

Inflation , Labor , Economics- Macroeconomics , Public Finance , ISCR , CR , ECB statement , market participant , August rate hike , euro , market , headline inflation , banking market , services PMI indicator , financing activity , Inflation , Productivity , Oil prices , Price stabilization , Employment , Global , Europe , South Asia

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Summary

The euro area recovered from the economic doldrums. Executive Directors welcomed the recovery, supported by strong financial conditions, global growth, and improved financial positions. They encouraged the reformed Stability and Growth Pact over fiscal policies, and underscored the need for accelerated fiscal consolidation and structural reforms. They pointed to the integrated National Reform Programs under the reformed Lisbon process and labor market reforms. Directors welcomed the progress in integrating Europe’s financial markets and the new Directive on Anti-Money Laundering and Combating the Financing of Terrorism.