This Selected Issues paper focuses on the impact and policy support to households, evidence from micro-level data in Greece. The Greek government has provided substantial support to households and enterprises to cope with the high cost of living in 2022-2023. This paper leverages on the rich...

This staff paper on euro area policy 2013 Article IV Consultation discusses economic development and policies. Severe market stresses have subsided, although private borrowing costs have remained too high in the periphery. In these economies, sovereign borrowing costs have declined from...

The 2012 Article IV Consultation report on euro area policies highlights that investors are withholding funding from member states most in need, moving capital “north†and abroad to perceived safer assets. Executive Directors have noted that the euro area continues to face a number of...

The United Kingdom (U.K.) economy has weathered the global slowdown well, supported by an countercyclical monetary policy and an expansionary fiscal stance. Executive Directors welcomed this developments, and stressed the need to tighten monetary, fiscal, and macroeconomic policies. They...

The continuing weakness of activity in the euro area reflects an amalgam of cyclical and long-term forces that are likely to shape the outlook and to challenge policies. Financial conditions in the area have improved along with those in global markets, though financial fragilities may be...