Boston, MA -- (SBWIRE) -- 01/13/2014 -- The euro area is in the midst of a major economic contraction with devastating effects for business. The euro area economy is forecasted to shrink 1.2% in 2013. The consumer led recovery adopted in United Kingdom and in the United States has not been effective in dragging the European economy out of recession.
Features and benefits
- This case study looks at the measures that the European Commission and the European Central Bank have taken to tackle the economic slowdown.
- This report analyzes the effects of the global banking crisis on the wider European Union economy
- This report examines the role of the region's financial system in the slowdown of the EU (European Union) economy.
The economic crisis has had a permanent impact in the Gross Domestic Product (GDP) of the euro area. It shifted the economic prospects of the region well below its pre-crisis level. Consequently, full economic recovery is no longer an option for policy makers within the region.
The financial services industry in the euro area is undergoing a major rehabilitation program following five years of slow economic growth intertwined with periods of recession. There are more than 8,000 financial institutions in Europe. The EU market has a bank based model as opposed to the capital market model in the United States.
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Your key questions answered
- How has the European Union responded to the crisis ?
- Has the financial aid from the European Central bank been effective to drag the economy out of recession ?
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