Hostname: page-component-cd9895bd7-lnqnp Total loading time: 0 Render date: 2024-12-29T01:36:31.649Z Has data issue: false hasContentIssue false
  • English
  • Français

Rising Public Debt and the Need for Fiscal Consolidation in Europe

Published online by Cambridge University Press:  26 March 2020

Get access Rights & Permissions [Opens in a new window]

Extract

The deepest, longest and most broadly-based recession the European Union has ever experienced appears to have come to an end. The third quarter of 2009 saw GDP in the EU increase by 0.3 per cent and economic activity in the Euro Area rose by 0.4 per cent. The recovery is expected to be broadly based across countries. After deep contractions registered in 2009 in all members of the EU (with the exception of Poland), all but four EU economies are expected to have recorded some growth in the second half of 2009. Greece, Ireland, Spain and Latvia suffered more than other EU economies, due to their intrinsic vulnerabilities, which reinforced the negative impact of the global shock. These economies are expected to record only moderate positive growth in 2011.

Type
The World Economy
Information
National Institute Economic Review , Volume 211 , January 2010 , pp. F27 - F37
Copyright
Copyright © 2010 National Institute of Economic and Social Research

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Barrell, R., Hurst, A.I. and Kirby, S. (2010), ‘The macroeconomic implications of pension reform’, forthcoming in France, D. (ed.), Pension Reform, Fiscal Policy and Economic Performance, Bank of Italy.Google Scholar
Holland, D., Barrell, R., T., Fic, Hurst, A.I., Liadze, I., Orazgani, A. and Whitworth, R. (2009), ‘Asia fiscal stimulus supporting the global recovery’, National Institute Economic Review, 210, pp. 21–4.CrossRefGoogle Scholar