Crisis Highlights Urgent Need for Deeper and Broader Macroeconomic Coordination and Surveillance in Euro Area
added: 2009-10-08
The euro acted as a crucial shield against the shock waves inflicted by the worst economic and financial crisis in post-war history. But the crisis also shows the importance to address competitiveness divergences as a matter of common interest and without further delay. Ensuring an efficient internal adjustment that puts the euro area on a sustained and balanced growth path and restores the long-term sustainability of its public finances is the way pointed by the 2009 Annual Statement on the Euro Area.
