EXECUTIVE SUMMARY Discussions for the combined eighth and ninth reviews were delayed by a political crisis and marked by new adverse Constitutional Court rulings. Reflecting in part austerity and reform fatigue, tensions within the ruling coalition led to two prominent cabinet members tendering...

The Netherlands is an AAA euro area (EA) economy with significant private sector imbalances. The main policy challenge is to restore growth and manage downside risks while allowing for an orderly adjustment of private sector balance sheets. A focus on medium-term objectives will cement policy...

This paper on Romania was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. It is based on the information available at the time it was completed on September 13, 2012. The views expressed in this...

The recovery in Europe continues, supported by strong policy action to contain sovereign debt problems in the euro area. In advanced Europe, lingering uncertainties and market pressures make for moderate and unequal growth, creating challenges for macroeconomic and financial sector policies. The...

This issue of the Regional Economic Outlook for Europe examines the moderate and uneven recovery occurring across the region. The varying speed of recovery in advanced Europe is closely linked to the degree of overheating and credit expansion going into the crisis. The even more varied speed of...

Europe is facing slower growth as a result of protracted financial turbulence and spillovers from the U.S. Meanwhile, inflation has risen sharply. Policymakers in advanced economies will have to continue to support financial markets and balance risks to real activity with the need to anchor...

The May 2011 Regional Economic Outlook: Europe anticipates that recovery in the region will solidify, with recoveries in advanced and emerging Europe likely to be mutually reinforcing. Advanced Europe continues to absorb most of emerging Europe's exports, while the role of emerging Europe as a...