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Weak financial conditions, fiscal consolidation and economic adjustment are restricting demand in the short-term before the long-term benefits on stability and growth are felt, Mr Gurría said. Decisive action to restore confidence and support demand is needed now, he added.
Economic Surveys of the European Union and the Euro Area
Euro area finance ministers meeting this week need to boost the firepower of the European stability funds to at least one trillion euros in order to restore market confidence, OECD Secretary-General Angel Gurría said today.
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Overview - Euro Area Survey 2012
Summary of Economic Surveys: Poland
The OECD’s latest economic survey of the Euro area and European Union, to be published on Tuesday 27 March 2012, looks at the measures and structural reforms needed to boost growth, rebalance the region’s economies and strengthen governance.
List of Economic Surveys - Austria
Controversial domestic policies have contributed to uncertainty thereby hurting confidence. Making the economy and financial system more robust to shocks and promoting a business-friendly environment will put growth on a sounder footing.
Hungarian debt level has steadily increased since 2001, with the debt-to-GDP ratio reaching about 84% at end-2011.
Reducing the extent of inactivity and promoting labour supply is essential to foster labour market outcomes in Hungary in the medium term.