(Quarterly report on the euro area. 04. December 2008.
Brussels. PDF. 41pp. Tab. Graph. Free.)
In addition to its regular assessment of the economic outlook, the report also proposes three analytical sections.
The first presents two indicators of financing cost recently constructed by the Commission. The indicators allow a more precise measurement of the implications of the financial crisis for the financing costs of households and non-financial corporations.
The second section discusses the possible effects of the turmoil on banks' balance sheets, loan supply and on short-term economic growth.
The third section assesses the short-term outlook for non-residential investment, emphasising the impact of rising capital costs and deteriorating corporate balance sheets.