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The financial and economic crisis - a chronological overview - August 2011

The economic crisis has prompted intense and sustained action by the EU's national governments, the European Central Bank and the Commission. All have been working closely together to support growth and employment, ensure financial stability, and put in place a better governance system for the future.

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16 August 2011

Statement on today's proposals by President Sarkozy and Chancelor Merkel

The proposals made today by President Sarkozy and Chancellor Merkel are a welcome step forward in our common efforts to strengthen the governance of the euro area. They represent an important political contribution by the leaders of the two largest euro area economies to this debate and the on-going work.

>> Statement by President Barroso and Commissioner Rehn

4 August 2011
Letter from President Barroso to the members of the European Council

Euro-area financial stability must be safeguarded, with all EU institutions playing their part with the full backing of euro area Member States.

>> Letter from President Barroso to the Heads of State or Government of the Euro areapdf Choose translations of the previous link 

3 August 2011
Statement by President Barroso on the euro area sovereign bond markets

Developments in the sovereign bond markets of Italy and Spain are a cause of deep concern. These developments are clearly unwarranted on the basis of economic and budgetary fundamentals in these two Member States and the steps that they are taking to reinforce those fundamentals. In fact, the tensions in bond markets reflect a growing concern among investors about the systemic capacity of the euro area to respond to the evolving crisis.

>> Read the statement Choose translations of the previous link 

Key events

Positive statement by the EC, ECB, and IMF Troika on the First Review Mission to Portugal

Positive statement by the EC, ECB, and IMF Troika on the First Review Mission to Portugal

12/08/2011

Staff teams from the Commission, ECB and IMF have held the first regular quarterly review of the government’s economic programme. In their assessment, Portugal is on track. The Troika welcomed the new government’s commitment to the ambitious and comprehensive program agreed in May 2011. Live press conference from Lisbon

Video coverage available on EbS

 
Statement by President Barroso on the euro area sovereign bond markets

Statement by President Barroso on the euro area sovereign bond markets

03/08/2011

Developments in the sovereign bond markets of Italy and Spain are a cause of deep concern. These developments are clearly unwarranted on the basis of economic and budgetary fundamentals in these two Member States and the steps that they are taking to reinforce those fundamentals. In fact, the tensions in bond markets reflect a growing concern among investors about the systemic capacity of the euro area to respond to the evolving crisis.

 

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