The current crisis calls for concerted action at both the European and the international level. The EU has taken a series of bold measures to restore confidence, stability and sustainability in the financial markets.
18 November 2009
European Banking Coordination Initiative Meeting for Romania
In a meeting of the European Bank Coordination Initiative Group, held on 18
November 2009 in Brussels, the parent banks of the nine largest banks operating
in Romania reaffirmed their commitment to maintain their exposure to the
country and ensure adequate capital levels over 10 percent for their
>> Joint statement by Commission and IMF after European Banking Coordination Initiative Meeting for Romania
16 November 2009
Commission concludes third review of the EU balance-of-payments assistance for Hungary
The European Commission services have, in close cooperation with the
International Monetary Fund staff, completed the third review under the EU
balance of payments assistance concluding that Hungary has made good progress
regarding its economic programme. Against the background of a markedly improved
access to market finance and strongly reduced external financing needs, Hungary
is not requesting the release of international assistance upon the completion
of this review.
>> Commission concludes third review of the EU balance-of-payments assistance for Hungary
9 Novemebr 2009
Eurogroup and ECOFIN ministers meetings of 9 and 10 November
Ministers will discuss the economic and financial situation. Recent months have seen a marked improvement in the economic situation and financial conditions.
>> Economic and Financial Affairs. Eurogroup and ECOFIN ministers meetings of 9 and 10 November
5 November 2009
European Central Bank (ECB) reconfirms low interest rates
At today’s meeting the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 1.00%, 1.75% and 0.25% respectively.
>> ECB. Monetary policy decision
3 November 2009
Autumn forecasts 2009 - 2011
The EU economy will emerge from recession in the second half of 2009. A relatively strong temporary pick-up is in the cards for the near term, with a more gradual recovery foreseen in 2010-2011.
>> Economic and Financial Affairs. Autumn forecast 2009-2011: EU economy on the road to a gradual recovery