Publisher's Synopsis
OECD's 2012 Economic Survey of the Euro examines recent economic developments, policy and prospects. In addition it includes special chapters cover Euro Area imbalances and Euro Area governance and structural reforms and their short-term impact. Assessments and recommendations, include: that the euro area sovereign debt crisis threatens the financial system and growth; that the emerging recession is driven by tightening financial conditions and weak confidence; that the crisis must be resolved by restoring confidence and dealing with the underlying causes; the Monetary policy should continue to support nominal demand through maintaining price stability while the public finances are repaired; the public finances need to be strengthened; an ambitious package of structural reforms is needed to boost growth and rebalance the euro area; stronger EU fiscal, financial and structural governance is needed to create stability; financial governan
