| Author (Corporate) | European Court of Auditors |
|---|---|
| Series Title | ECA Special Reports |
| Series Details | No.18, 2015 (January 2016) |
| Publication Date | 2015 |
| ISBN | 978-92-872-3173-4 |
| ISSN | 1831-0834 |
| EC | QJ-AB-15-016-EN-C |
| Content Type | Policy-making, Report |
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Summary: When the 2008 financial crisis triggered a European sovereign debt crisis, some Member States were forced to seek macrofinancial assistance. This report examines how well the European Commission managed the assistance provided to five countries — Hungary, Latvia, Romania, Ireland and Portugal. It found that the Commission was unprepared for the magnitude of the crisis, which largely explains the significant initial weaknesses in its management processes. A number of the identified weaknesses still persisted at the time of publishing, and the main message of the report is that the Commission had to strengthen its procedures for the management of financial assistance. |
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| Source Link | Link to Main Source http://dx.publications.europa.eu/10.2865/278824 |
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| Subject Categories | Economic and Financial Affairs |
| Countries / Regions | Europe |
