| Author (Corporate) | European Commission: DG Economic and Financial Affairs |
|---|---|
| Series Title | European Economy |
| Series Details | No.1, 2012 |
| Publication Date | March 2012 |
| ISBN | 978-92-79-22818-6 |
| ISSN | 0379-0991 |
| EC | KC-AR-12-001-EN-C |
| Content Type | Policy-making, Report |
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Renewed tensions in sovereign-debt markets, high oil prices and decelerating world output growth have all contributed to a sharp loss of confidence towards the end of 2011 and the subsequent output contraction in the EU. Strong policy actions and major advancements in the EU institutional framework have averted a far worse outcome and brought about an easing of financial market tensions as well as a stabilisation in confidence at the beginning of 2012. However, looming uncertainty about economic prospects, re-ignited stress in sovereign-bond markets and concerns about the banking sector are still weighing on economic and financial conditions, albeit with large cross-country divergences. |
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| Source Link | Link to Main Source http://ec.europa.eu/economy_finance/publications/european_economy/2012/ee1upd_en.htm |
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| Subject Categories | Economic and Financial Affairs |
| Countries / Regions | Europe |
