Economic structures 20 years into the euro

Bericht

Well-functioning economic structures are key for resilient and prospering euro area economies. The global financial and sovereign debt crises exposed the limited resilience of the euro area's economic structures. Economic growth was masking underlying weaknesses in several euro area countries. With the inception of the crises, significant efforts have been undertaken by Member States individually and collectively to strengthen resilience of economic structures and the smooth functioning of the euro area. National fiscal policies were consolidated to keep the increase in government debt contained and structural reform momentum increased notably in the second decade, particularly in those countries most hit by the crisis. The strengthened national economic structures were supported by a reformed EU crisis and economic governance framework. However, overall economic structures in euro area countries are still not fully commensurate with the requirements of a monetary union. Moreover, remaining challenges, such as population ageing, low productivity and the implications of digitalisation, will need to be addressed to increase economic resilience and long-term growth.

Object Details

• ISBN: 978-92-899-3689-7
• Language: Englisch

References and Relationships

• Bibliographic citation: Series: ECB Occasional Paper ; No. 224

Classification and Topics

• Classification: Wirtschaft ; Price Level; Inflation; Deflation ; Business Fluctuations; Cycles ; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General ; Fiscal Policy ; Trade: General ; Demographic Trends, Macroeconomic Effects, and Forecasts ; Institutions and Growth
• Subject: economic structures ; euro area ; resilience ; growth

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Consolo, Agostino ; Gunnella, Vanessa ; Koester, Gerrit ; Lambrias, Kyriacos ; López-García, Paloma ; Nerlich, Carolin ; Petroulakis, Filippos ; Saiz, Lorena ; Serafini, Roberta ; Sondermann, David
• Event: Veröffentlichung
• (who): European Central Bank (ECB)
• (where): Frankfurt a. M.
• (when): 2019

Further information

• DOI: doi:10.2866/32344
• Handle: http://hdl.handle.net/10419/207610
• Last update: 10.03.2025, 11:44 AM CET