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Which way out © Mi Ran Collin


Getting back on track:
Strategies for smoothly exiting from support measures

The EU’s response to the global downturn was immediate and forceful, and has included fiscal support amounting to 5% of GDP. But the process of repair and recovery remains incomplete. The EU must therefore maintain its strong policy response and avoid any premature withdrawal of stimulus, while at the same time beginning to design strategies for exiting from temporary support measures – when the time is right, and in a cooperative and coordinated way. This planning will help make the critical transition from crisis to self-sustaining recovery.
Unemployment © Jasper Juinen - Gettyimages.comNot over yet:
Softening the impact of the financial crisis on the labour market
The EU unemployment rate is expected to increase to above 10% in 2009, reversing the downward trend which started a decade ago. Nonetheless, there is some cause for hope.
Bank © Roman Levin - Fotolia.comFinancial sector repair:
The sine qua non for economic recovery
Complete recovery of the real economy depends on restoring the financial system to full health. The various policy measures implemented thus far have been highly effective in averting a complete meltdown of the financial system and in helping to restore normal market functioning.
Pittsburg summit © European CommunitiesNo continent is an island:
Addressing global macroeconomic imbalances
The crisis shows that major economies of the world are highly interdependent. While not the direct cause of the banking crisis and subsequent recession, global macroeconomic imbalances were a contributing factor.
Lisbon treaty © Jeff J Mitchell - Getty Images.comA stronger voice for the euro area:
The impact of the Lisbon Treaty on EMU
In a referendum held on 3 October, Irish voters approved the Lisbon Treaty by a margin of 67.1 to 32.9 per cent, representing a swing of more than 20 per cent from the outcome registered in June 2008, when an earlier version of the Treaty was rejected by 53.4 per cent.
Iceland, Jökulsárlón © ZITRUSBLAU – Fotolia.comBack from the brink?
Iceland’s road to recovery
Iceland’s spectacular and sudden economic collapse was the result of macroeconomic imbalances which built-up over time. These were driven by a booming economy and aggressive expansion by Icelandic banks.

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