Policy Brief: Economic Survey of the European Union 2009
The European Union is facing severe challenges from the financial crisis and the worst global recession in the past fifty years. The Community has responded to the
crisis proactively, consistent with the broad framework for policy actions provided by the European Economic Recovery Plan. Actions have been taken to stabilise
financial markets and support the economy. An ambitious agenda for financial services reform is underway to improve macro- and micro-prudential regulation
and supervision, and the ECB has cut its policy rate significantly.
Long abstract